By REUTERS
Malaysia’s consumer price index in December rose to 2.7% from a year earlier due to a rise in prices for alcohol and tobacco products, government data showed on Wednesday.
The inflation rate was bang in line with the median forecast of 2.7% in a Reuters poll, and up from 2.6% in November.
Fuel prices fell in December but a 40% tax hike on tobacco products imposed by the government the previous month have continued to drive inflation, economists said.
The country’s inflation rate rose after the government introduced a 6% goods and services tax in April but has been below 3% since September.
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