Malaysia’s Inflation Rate Moderates to 2 Pct in July

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Malaysia’s inflation moderated to 2 percent in July, the lowest for the year, official data showed Friday.

The Department of Statistics Malaysia (DOSM) said in a statement that the low inflation rate for the month was driven by the slower increase in restaurants and hotels (5 percent), and food and non-alcoholic beverages (4.4 percent).

The food and non-alcoholic beverages group, which contributes 29.5 percent of total consumer price index (CPI) weight, also recorded a moderate increase of 4.4 percent.

The monthly headline inflation in July eased to 0.1 percent as against 0.2 percent in June.