Malaysia Feb inflation rate seen up 4.1% y/y, fastest in a year

Malaysia Feb inflation rate seen up 4.1% y/y, fastest in a year
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KUALA LUMPUR (March 20): Malaysia's annual inflation rate is expected to expand 4.1% in February, the fastest pace in a year, a Reuters poll showed.

The rise in February's consumer price index was likely driven by rising transport costs, following higher global oil prices and a weaker Malaysian ringgit, the economists surveyed said.

A 4.1% annual inflation rate would be the highest since February 2016, when it hit a seven-year peak of 4.2%.

In January, annual inflation rose 3.2%, driven by higher prices of food and transport.

Malaysia's central bank said last month inflation had expanded 1.7% in the fourth quarter of 2016.

The government said in October it expected inflation to remain between 2% and 3% in 2017.