Malaysian consumer prices held steady in November, with inflation running at 3.0 percent year-on-year compared to 3.1 percent seen in October, according to official data released today.

Month-on-month, the consumer price index (CPI) in November saw a slight increase of 0.3 percent from October.

For the 11 months to November, consumer prices increased by 3.7 percent compared to the same period a year ago, the statistics department said.

Inflation struck 4.8 percent in March, the highest level in six years, after the government introduced steep hikes in fuel prices in February.

It eased back to 4.6 percent in April and to 3.9 percent in May. Inflation then slowed sharply in August to a 3.3 percent year-on-year rate from 4.1 percent in July.

The moderation in the consumer price index in the second half of the year was in line with projections by the central bank.

In November, the central bank kept its key interest rate unchanged at 3.50 percent for the fifth time in a row in line with easing inflation and steady growth.

Central bank governor Zeti Akhtar Aziz said in October inflation was expected to edge below 3.0 percent in 2007 if oil prices continue to remain low.