May 17, 2017 / 5:31 AM / 4 months ago

Malaysia's April consumer prices rise 4.4 percent year-on-year, below forecast

Customers shop at a shopping mall in Kuala Lumpur August 21, 2013. REUTERS/Bazuki Muhammad

KUALA LUMPUR (Reuters) - Malaysian consumer prices MYCPI=ECI in April were 4.4 percent higher than a year earlier, government data showed on Wednesday, due to rising transport and food costs.

Inflation was just below the 4.5 percent annual pace forecast in a Reuters poll, and was down from March’s 5.1 percent, the highest rate in eight years.

Transport costs in April rose 16.7 percent year-on-year on higher fuel prices, data from the Statistics Department showed, while prices for food and non-alcoholic beverages increased 4.1 percent.

Malaysia’s central bank said the annual headline inflation rate was 4.3 percent in the first quarter of 2017, but is expected to moderate in the second half.

Bank Negara Malaysia has set a 2017 inflation target of 3 to 4 percent.

Reporting by Rozanna Latiff; Editing by Sunil Nair

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