Published at 04:42 (GMT) 19 Jun
May's CPI came in line with market expectations at 2.1% y/y, slightly higher than the 1.8% y/y print seen in April. May's inflation rate is also the sharpest since December 2014 at 2.7% y/y. Breakdown of the categories saw the biggest y/y increase for alcohol and tobacco at 11.3% y/y while transport remained subdued at -4.7% y/y. Implementation of the 6% GST on 1st April seemed to have a delayed effect as we see a y/y increase for the categories of food and beverage, clothing and footwear, housing, utilities and fuel, etc. On the other hand, weak gas prices continued to keep transport prices low in a disinflationary trend.
USD/MYR rose slightly into noon, last seen at 3.7200-10, set to test the 3.7220 (11 Jun low) resistance, breaking of which will signal upward momentum returning. KLCi rose higher into noon, last seen +0.3%.
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