Malaysia's CPI Falls Again in January, But at Slower Pace

KUALA LUMPUR--Malaysia's consumer price index declined at a slower pace in January as higher food prices cushioned the fall in fuel and utilities prices amid renewed measures to curb a resurgence of Covid-19 infections.

The latest CPI reading marked the 11th consecutive month the Southeast Asian country has registered deflation.

January CPI contracted 0.2% compared with the same period a year earlier, versus a 1.4% decline in December, the Department of Statistics said Wednesday. The decline was milder than the median forecast for a 1.0% fall from a Wall Street Journal poll of 10 economists.

Besides transport and utilities prices, the department said prices for clothing & footwear and restaurants & hotels also fell in January.

However, prices for food & non-alcoholic beverages, which has almost a 30% weight in the CPI, increased 1.5%.

Of the 552 items covered by the CPI, 340 items showed an increase in prices for January while prices for 138 items declined and prices of 74 items were unchanged, the department said.

The CPI, when not considering fuel prices, climbed 0.5% in January.

The January CPI rose 1.2% when compared with the previous month, mainly due to higher prices for transport, utilities, household equipment and food.

Write to Chester Tay at chester.tay@wsj.com


  (END) Dow Jones Newswires
  02-23-21 2314ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.