June Inflation Rate Lowest Since February 2015
12 views · Published 18 July 2018 · 1:04 · Indexed 21 September 2026
Channel: 7Edition · 2018 · News & Politics
Malaysia’s consumer price index (CPI), rose at its slowest pace in more than three years in June following the withdrawal of the goods and services tax (GST). According to the statistics deparment the inflation rate in June was at 0.8 percent its lowest since February 2015 when it was at 0.1 percent. The figure was below the 1.3 percent forecast by a Reuters poll and sharply down from the 1.8 percent recorded in May. The abolishment of GST as well as discounts and price control measures during the Eid Al-Fitr celebrations had a significant impact on prices of goods in June. The new government led by Prime Minister, Tun Dr. Mahathir Mohamad put in office after the May 9th General Election scrapped the 6 percent consumption tax on June 1st. In June, costs were down across all goods and services except for the transport index which rose 5.5 percent from a year earlier due to higher domestic fuel prices.
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