February 26, 2018 / 7:18 AM / 9 months ago

Malaysia January inflation rate seen at 2.9 percent, slowest in over a year: Reuters poll

FILE PHOTO: Women shop at a market in Kuala Lumpur, Malaysia, February 18, 2016. REUTERS/Olivia Harris/File Photo

KUALA LUMPUR (Reuters) - Malaysia’s annual inflation rate, which stayed above 3 percent each month last year, likely cooled to 2.9 percent in January, a Reuters poll showed.

Headline inflation MYCPI=ECI came down after hitting an eight-year high of 5.1 percent in March 2017, but did not drop below 3 percent throughout the year. The December rate was 3.5 percent.

The last time the annual inflation rate was under 3 percent was December 2016, when it was 1.7 percent.

Malaysia’s central bank raised its key interest rate MYINTR=ECI for the first time in three and a half years in January.

Inflation data for January was originally scheduled to be released on Feb. 21. The statistics department has not given a reason for the delay.

Reporting by Rozanna Latiff; Editing by Richard Borsuk

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