Malaysia Inflation At 1-Year High

(RTTNews) - Malaysia's consumer price inflation accelerated more-than-expected in June to reach its strongest level in a year, data from the Department of Statistics showed on Friday.

The consumer price index climbed 3.4 percent year-over-year in June, faster than the 2.8 percent rise in May. That was also above the 3.1 percent rise expected by economists.

Moreover, this was the highest inflation rate since June last year, when prices had grown the same 3.4 percent.

Prices for food and non-alcoholic beverages alone grew 6.1 percent annually in June and transport costs rose 5.4 percent.

Utility costs were 1.2 percent higher in June compared to last year, and those for restaurants and hotels registered an increase of 5.0 percent.

The core inflation rose to 3.0 percent in June from 2.4 percent in the prior month.

On a monthly basis, consumer prices went up 0.6 percent at the end of the second quarter.