KUALA LUMPUR (May 24): Malaysia’s inflation came in slightly slower than expected in April, as increases at restaurants and costlier personal care goods were blunted by cheaper communications and clothing items, official data on Friday showed.

The consumer price index - Malaysia’s main gauge of inflation - rose 1.8% in April from a year earlier, the Department of Statistics Malaysia said in a statement. That was slower than the median 1.9% estimate in a Bloomberg poll of economists. The rate has also remained unchanged for three straight months.

The food-and-beverages group, which accounts for nearly 30% of the index’ weightage, rose 2% year-on-year in April, the department said. Restaurant and accommodation services were up 3.5%, while personal care, social protection, and other goods and services were up 3.1%.

Information and communications declined 2.5%, while clothing was down 0.3%, and financial services including insurance slipped 0.1%.

Inflation for transport, meanwhile, was 0.8% in April, while the group that covers housing, water, electricity, gas and other fuels rose 3.0%.

Core inflation, which measures domestic-driven inflation by excluding volatile items and other price-administered items, came in at 1.9% in April, faster than March’s 1.7% pace.

The official forecast calls for a headline inflation rate of 2% to 3.5% in 2024, versus 2.5% in 2023, and core inflation at 2% to 3% against the 3% average in 2023.

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