New Straits Times

Malaysia's inflation shoots up fastest in nearly five years

11 days ago

KUALA LUMPUR: Malaysia's core inflation has surged to an almost five-year high as domestic demand strengthens. The headlineinflation rose to 2.8per cent year-on-year (YoY) in May, the fastest gain since July 2017, to surpass Bloomberg consensus of 2.7 per cent. Food and non-alcoholic beverages price inflation saw an accelerated increase to 5.2 per cent YoY last month, the highest level since October 2012.UOB Malaysia senior economist Julia Goh and economist Loke Siew Ting said all food items logged a persistent price hike, particularly meat which was up by 9.5 per cent YoY compared to 6.2 per cent increase registered in April.