A fishmonger makes a sale at a market in Kuala Lumpur on Aug 14, 2010. Inflation has spiked in recent months due to higher fuel prices, adding pressure on the central bank to raise interest rates. Bank Negara Malaysia said on Thursday inflation will probably average 3% to 4% this year, up from 2.1% in 2016, adding that 2017 will be another challenging one for monetary policy. The bank has left its benchmark rate unchanged at 3% since a surprise cut in July. Transport costs surged 17.9% in February from a year ago, after increasing 8.3% in the previous monthFood prices, which makes up 30% of the CPI basket, rose 4.3% from a year ago.

Source: Bangkok Post March 24, 2017 05:37 UTC