In an unexpected turn, Malaysia's consumer price inflation saw a mild increase in October after hitting a five-month low the previous month, according to the Department of Statistics. The Consumer Price Index (CPI) recorded a 1.9% rise year-on-year in October, following a 1.8% increase in September. This development defied economists' forecasts, who had anticipated inflation to stabilize at 1.8%.
The data further revealed that core inflation held steady at 1.8%. Additionally, the annual inflation rate for food and non-alcoholic beverages rose from 1.6% to 2.3%. Housing and utility expenses continued to climb consistently, registering a 3.1% growth rate. In contrast, transportation costs grew at a decelerated annual rate of 0.7%, down from the 1.1% increase in September.
On a month-to-month comparison, consumer prices nudged up by 0.2% in October, following a flat readout in the previous month.
