KUALA LUMPUR – Core inflation is projected to be closer to the upper end of the 2% to 3% range in 2022, as demand continues to improve amid the high-cost environment, said Bank Negara Malaysia (BNM) Governor Tan Sri Nor Shamsiah Mohd Yunus.
She said upside risks to the inflation outlook would be subjected to the strength of domestic demand, global prices and domestic policy measures.
“Nonetheless, the extent of upside pressures on inflation are expected to remain partly contained by existing price control measures, fuel subsidies and the existence of some spare capacity in the economy,” she said during a joint press conference by BNM and the Statistics Department on Malaysia’s second quarter 2022 gross domestic product performance here today. – Bernama, August 12, 2022
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