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Malaysia's April CPI seen rising 0.4% year-on-year - Reuters poll

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05/22/2019 | 11:48pm EDT
Shoppers look at shoes at a shopping mall in Kuala Lumpur

KUALA LUMPUR (Reuters) - Malaysia's consumer prices are likely to increase in April at a slightly faster pace than the previous month, a Reuters poll showed on Thursday.

The consumer price index likely rose 0.4% in April, compared to an increase of 0.2% year-on-year in March, when it rebounded after two months in deflationary territory.

Price pressures have been mild since the government scrapped an unpopular consumption tax in June 2018 and reinstated a narrower sales and services tax (SST) three months later.

Earlier this month, the central bank cut its key interest rate for the first time since 2016, amid weak inflation and concerns over slowing economic growth.

Bank Negara Malaysia, however, has said the country did not face serious deflationary pressures. Headline inflation, which came in at 1% in 2018, was likely to average higher this year, the central bank said.

(Reporting by Rozanna Latiff; editing by Rashmi Aich)

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