Malaysia January inflation pace seen rising to 2.8% y/y

Malaysia January inflation pace seen rising to 2.8% y/y
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KUALA LUMPUR (Feb 21): Malaysia's consumer price index likely rose 2.8% from a year earlier in January, rising sharply from the previous month's pace, a Reuters poll showed.

Inflation in January likely rose due to increased transport costs, following higher global oil prices and a weaker Malaysian ringgit, the economists surveyed said.

In December, the annual inflation rate was at 1.8%, matching levels from the previous month, as prices of food and housing and utilities rose.

Annual inflation reached a seven-year peak of 4.2% in February 2016, but then moderated as the effects of a goods and services tax imposed in April 2015 faded.

Malaysia's central bank said in November that annual inflation moderated to 1.3% in the third quarter.