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Inflation hits a new 27-year high
Published:  Aug 22, 2008 10:11 AM
Updated: 11:15 AM

The inflation rate rose to a new 27-year high of 8.5 percent in July, driven higher by the escalating cost of fuel and electricity.

The result was substantially higher than expected, and increased pressure on the central Bank Negara to raise official interest rates, said Wan Suhaimi Saidi, an economist with Kenanga Investment Bank.

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