KUALA LUMPUR – Headline inflation recorded a smaller negative at -1.4% in the third quarter, mainly due to higher domestic retail fuel prices in line with the recovery in global oil prices.
In a statement today, Bank Negara Malaysia (BNM) said core inflation moderated slightly to 1%.
“Headline inflation is projected to average higher in 2021, primarily reflecting the higher projected global oil prices and the lapse in impact from the tiered electricity tariff rebate in 2020.”
Underlying inflation is expected to be subdued amid spare capacity in the economy, said the central bank.
BNM said the outlook for inflation trajectory will depend mainly on global oil and commodity price developments. – Bernama, November 13, 2020
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