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Malaysia's September inflation rate steady at 1.5pct year-on-year

Malaysia's consumer price index in September rose 1.5 percent from a year earlier, matching the pace in August, government data showed today.

The figure was slightly below the median forecast of 1.7 percent in a Reuters poll of economists.

Data from the Statistics Department showed increased prices for food, alcoholic and non-alcoholic beverages, tobacco and housing in September, which were offset by lower transport and communication costs.

The annual inflation rate reached a seven-year peak of 4.2 percent in February, but has since moderated as the effects of a goods and services tax imposed in April 2015 have faded.

In July, Malaysia's central bank cut its inflation projection for the year to 2-3 percent from 2.5-3.5 percent.

- Reuters

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