Given RON95’s significant weightage in the CPI basket, the removal of the petrol subsidy will have a direct impact on inflation
[KUALA LUMPUR] Malaysia’s inflation rate held steady at 2 per cent year on year in June, despite economists’ expectations it would trend higher following the removal of a petrol subsidy, a report by the Department of Statistics Malaysia (DOSM) showed on Wednesday (Jul 24).
The final figure remained the same as in the previous month, and is below economists’ projections of 2.2 per cent in a recent Reuters poll.
Core inflation, meanwhile, rose by 1.9 per cent from a year earlier, the same level as in the previous month.
