October 21, 2019 / 10:08 AM / a month ago

Malaysia's September CPI seen at 1.4% year-on-year, slightly slower than August: Reuters poll

KUALA LUMPUR (Reuters) - Malaysia’s consumer price index MYCPI=ECI in September is expected to rise 1.4% from a year earlier, a Reuters poll showed on Monday, slightly slower than the previous month’s pace.

The index had risen 1.5% in August from a year earlier, as lower transport costs offset higher prices of food and household goods.

Inflation has been mild since an unpopular consumption tax was scrapped in June 2018, but Bank Negara Malaysia (BNM) expects the headline inflation rate to be higher on average in the second half of this year.

However, analysts say pressure on prices will likely remain subdued on expectations of slower economic growth as the U.S.-China trade war drags on Malaysia’s export-reliant economy.

In May, BNM cut its key interest rate for the first time since 2016, amid low inflation and concerns over slowing economic growth.

Reporting by Rozanna Latiff; Editing by Jacqueline Wong

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