Malaysia’s consumer prices rose at a slower pace for a third consecutive month in July as a pandemic lockdown dampened demand.
The consumer price index was 2.2% higher in July compared with a year earlier, following a 3.4% rise in June, the Department of Statistics said on Wednesday (Aug 25).
July’s increase in the CPI was lower than the median forecast for a 3.0% rise, according to a Wall Street Journal poll of seven economists.
Transport-related prices were the main contributor to inflation, followed by furnishings, household equipment, food and non-alcoholic beverages and utilities. Excluding fuel prices, the CPI climbed 0.8%.
The index was down 0.6% from June, mainly dragged by utilities prices and alcoholic beverages and tobacco, the department said.
The CPI rose 2.3% for the first seven months of the year.