April CPI seen post­ing 4.53pc growth

New Straits Times - - Business -

KUALA LUMPUR: The Con­sumer Price In­dex (CPI) is likely to have eased last month af­ter record­ing a strong 5.1 per cent in March.

An NST Busi­ness poll ex­pects the CPI to post a 4.53 per cent growth last month.

The Sta­tis­tics De­part­ment will re­lease the data to­day.

Stan­dard Char­tered Bank econ­o­mist Ed­ward Lee said trans­port in­fla­tion might have mod­er­ated ver­sus in March as do­mes­tic fuel prices fell about 4.5 per cent month-on-month last month.

On a year-on-year ba­sis, how­ever, trans­port likely re­mained a sig­nif­i­cant con­trib­u­tor to in­fla­tion due to the higher global oil prices.

“Food in­fla­tion may have eased slightly as prices fell month-on-month in April, but it also re­mained a sig­nif­i­cant con­trib­u­tor on a year-on-year ba­sis.

“We ex­pect the cen­tral bank to con­tinue to look past the re­cent rise in head­line CPI in­fla­tion, which has been driven by ad­min­is­tra­tive and sup­ply mea­sures, and to keep the pol­icy rate un­changed at three per cent for this year while main­tain­ing its fo­cus on core in­fla­tion and growth.” Rupa Damodaran

Do­mes­tic fuel prices fell about 4.5 per cent month-on-month last month.

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