Malaysia’s Inflation Rises by 3.4% in June, Beats Expectations

Malaysia’s headline inflation increased by 3.4 percent in June from a year ago, due to higher food prices, official data showed Friday.

The increase was greater than the 3.1 percent predicted by economists in a Reuters poll and the 2.8 percent seen in May.

The Department of Statistics Malaysia (DOSM) noted in a statement that this increase was higher than the country’s 1.9 percent average inflation rate from January 2011 to June 2022.

According to DOSM, the food index grew by 6.1 percent in June and remained the primary contributor to the increase in inflation.

For the second quarter, the inflation rose 2.8 percent from a year ago.