Consumer prices in Malaysia dropped by 2.9% yoy in May 2020, the same as in a month earlier and compared with market consensus of a 2.7% fall. This was the third straight month of deflation and the steepest reading on record on the back of the COVID-19 crisis, with transport prices plunging further (-20.8% vs -21.5% in April) and cost of housing & utilities falling more (-2.6% vs -2.2%). Also, there were falls in cost of both clothing (-1.1% vs -1.2%) and furnishings, household equipment and routine maintenance (-0.2% vs 0.3%). At the same time, inflation was unchanged for food (at 1.2%), alcoholic beverages & tobacco (at 0.2%), health (at 1.2%), and communication (at 1.6%). Meanwhile, cost rose further for recreation services & culture (0.7% vs 0.6%), education (1% vs 1.2%) restaurants & hotels (0.9% vs 0.7%), and miscellaneous goods & services (2.8% vs 2.7%). On a monthly basis, consumer prices rose by 0.3% in May, after a 2.7% fall in April.
Inflation Rate in Malaysia averaged 3.48 percent from 1973 until 2020, reaching an all time high of 23.90 percent in March of 1974 and a record low of -2.90 percent in April of 2020. This page provides - Malaysia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Malaysia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Department of Statistics, Malaysia
Inflation Rate in Malaysia is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Malaysia to stand at 1.60 in 12 months time. In the long-term, the Malaysia Inflation Rate is projected to trend around 2.00 percent in 2021 and 1.90 percent in 2022, according to our econometric models.