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Malaysia's August CPI seen up slightly at 1.5% year on year

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09/23/2019 | 01:24am EDT
A fishmonger makes a sale at a market in Kuala Lumpur

KUALA LUMPUR (Reuters) - Malaysia's consumer price index <MYCPI=ECI> likely rose 1.5% in August from a year earlier, a Reuters poll showed on Monday, a slight acceleration from the previous month's pace.

The index grew at a slightly slower annual pace in July, at 1.4%, on lower transport costs, after rising at its fastest speed in more than a year in the previous month as the effects of tax policy changes introduced last year lapsed.

Inflation has been mild since an unpopular consumption tax was scrapped in June 2018, but Bank Negara Malaysia (BNM) said last month it expected headline inflation to average higher in the second half of this year.

Analysts have said that pressure on prices will likely remain subdued, on expectations of slower economic growth.

August's pace will also likely be weighed down by low pump prices due to lower global oil prices, Standard Chartered said in a note on Friday.

In May, BNM cut its key interest rate for the first time since 2016, amid low inflation and concerns over slowing growth.

(Reporting by Joseph Sipalan; Editing by Subhranshu Sahu)

Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -2.28% 59.18 Delayed Quote.7.64%
STANDARD CHARTERED -0.09% 654.8 Delayed Quote.7.57%
WTI -2.43% 53.45 Delayed Quote.14.98%
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