Malaysia’s CPI rises 4.7 percent in April

Malaysia’s CPI rises 4.7 percent in April  (Photo: https://www.theedgemarkets.com/)

Kuala Lumpur (VNA) - Malaysia’s consumer price index (CPI) rose 4.7 percent year-on-year in April 2021 — the highest since 2018.

The Department of Statistics Malaysia said in a statement on May 21 that the increase in CPI was driven by the spike in fuel prices, with the index of transport surging by 27 percent compared to April 2020.

Previously, Malaysia’s CPI in March increased by 1.7 percent.

The Southeast Asian country’s GDP in the first quarter of 2021 shrank 0.5 percent, much better than the 3.4-percent decline in the fourth quarter of 2020. However, this was also the fourth consecutive quarter the country recorded economic contraction.

Despite the economic slowdown in the first quarter of 2021 and the Government’s order to apply the Movement Control Order (MCO) nationwide from May 12 to June 7, the Bank Negara Malaysia (BNM) still maintains its economic growth forecast for the country at 6 - 7.5 percent./.

VNA