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Malaysia July inflation rate seen easing to 3.3% y/y

Malaysia July inflation rate seen easing to 3.3% y/y

KUALA LUMPUR: Malaysia’s consumer price index likely rose 3.3% in July from a year earlier, a Reuters poll showed, slowing in pace for the fourth month in a row.

Higher food prices were kept in check likely by lower transport costs, as global oil prices fell, one of the economists surveyed said. The headline inflation rate reached an eight-year high of 5.1% in March, but has since moderated. Malaysia’s central bank has set a 2017 inflation target of 3-4%.