logo

Malaysia Inflation Slowed in February After Government Set Ceiling Prices for Chicken, Eggs

  • Mar 25, 2022

KUALA LUMPUR–Malaysia’s consumer prices increased at a slower pace in February after the government imposed a ceiling on retail prices of chicken and eggs for four months effective Feb 5.

The consumer-price index for February rose 2.2% from a year earlier, following a 2.3% increase in January, the country’s Department of Statistics said Friday.

Fuel and food prices remained the main drivers for February inflation, followed by household equipment, restaurant and hotels.

The inflation reading defied a median estimate of seven economists polled by The Wall Street Journal, which forecast CPI to accelerate 2.4% in February.

“The increase in world oil prices and the conflict between Ukraine and Russia may affect the supply chain and have ripple effect across the global economy. This will likely have implication on transportation cost and thus national inflation,” the department said.

Core inflation, which excludes volatile items of fresh food as well as goods controlled by the government, increased 1.8% on year.

On a monthly basis, February CPI increased 0.2% from January, driven by prices of recreation services, utilities, restaurants and hotels.

Source: https://www.marketwatch.com/story/malaysia-inflation-slowed-in-february-after-government-set-ceiling-prices-for-chicken-eggs-271648180805