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According to analysts at ANZ, at 0.2% y/y in April Malaysia’s headline CPI inflation remained unchanged from the previous month.

Key Quotes

“Although food prices declined 0.2% in the month, this was offset by a rise in transportation costs.”

“In our view, the price ceiling on domestic fuel products has likely shielded consumers from the full extent of the rise in oil prices over the last two months.”

“The trend in core inflation remains benign and with slower growth momentum, we expect this trend to continue.”

“Risks to the inflation outlook are broadly balanced – higher-than-expected oil prices pose an upside risk, while the recent changes to controlled food items could limit volatility in food prices.”