Malaysia's inflation rate dips 0.2 pct in March on lower fuel prices

By： Update：2020-04-23

KUALA LUMPUR, April 22 (Xinhua) -- Malaysia's inflation, as measured by consumer price index, fell 0.2 percent year-on-year in March as fuel prices declined, official data showed Wednesday.

Malaysian Statistics Department said in a statement that transport index, which contributed 14.6 percent of overall weight, decreased 8.9 percent in March, due to lower oil prices.

However, food and non-alcoholic beverages index, which made up of 29.5 percent of total CPI weight, grew 1.2 percent.

The index of housing, water, electricity, gas and other fuels also rose 1.6 percent.

Meanwhile, core index, which excludes most volatile items of fresh food as well as administered prices of goods and services, rose 1.3 percent in March.

CGS-CIMB Research said in a note Wednesday that it anticipated low oil prices and weak demand to result in inflation of -1.1 percent in 2020.

The research house also projected Malaysian Central Bank to further cut overnight policy rate by 75 basis points. Enditem