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Malaysia March inflation rate seen up slightly at 1.6 percent year-on-yea

Malaysia March inflation rate seen up slightly at 1.6 percent year-on-yea

KUALA LUMPUR: Malaysia’s annual inflation rate is expected to edge up to 1.6 percent in March, accelerating slightly from the previous month, a Reuters poll showed.

Inflation was likely kept in check by lower fuel prices in March, which offset higher food costs, economists in the survey said. The inflation rate was 1.4 percent in February, its slowest pace since October 2016. Headline inflation has moderated after staying above 3 percent every month last year, peaking at 5.1 percent in March 2017.

 Malaysia’s central bank left its key interest rate unchanged last month, after hiking it in January for the first time in over three years, as inflationary pressures eased.