Malaysia's Dec inflation rate at 3.5 pct y/y, meets forecast

Malaysia's Dec inflation rate at 3.5 pct y/y, meets forecast

The relatively flat result this quarter leaves the consumers price index (CPI) inflation rate at 1.6% for the December 2017 year.

The timing of a rate increase is being complicated by a general election, which must be held by August 2018.

"The combination of strong economic activity and inflation momentum suggests that it is appropriate for the BNM to gradually remove some monetary accommodation", Australia & New Zealand Banking Group's Radhika Piplani and Sanjay Mathur wrote in a note to clients.

The increase was lower than the rise at the end of 2016, meaning annual inflation dropped to 1.6 per cent, the lowest in annual rate in 12 months.

"Today's data, along with our belief that the economy is set to go through somewhat of a near-term growth wobble, see us pushing out our expectation for the first [official cash rate (OCR)] hike to mid-2019 (from November 2018)", ANZ senior economist Phil Borkin said.

The Reserve Bank is mandated with keeping annual inflation between 1-and-3 percent over the medium term with a focus on the mid-point.

The kiwi dropped to 73.29 USA cents as at 12.05pm from 74.30 cents immediately before government data showed the consumers price index rose at an annual pace of 1.6 percent in the December quarter, below the 1.9 percent pace predicted in a poll of 13 economists surveyed by Bloomberg and the Reserve Bank's projection for an annual rise of 1.8 percent.

More news: Microsoft Releases New Tool For Inspecting Telemetry Data

New Zealand inflationary pressures remain incredibly weak. "And, with this release raising numerous questions about the strength of inflation moving forward, it reinforces that there is no need for the RBNZ to raise interest rates anytime soon", she said.

"Petrol prices were up in the December quarter, following two quarters of falls", prices senior manager Jason Attewell said.

The hefty petrol price hike was the main driver behind this. "Rising oil prices and a falling exchange rate pushed prices up sharply between July and November this year".

Inflation for goods increased 4.1% year-on-year for December, and the inflation for services increased by 5.3% year-on-year. In the year to December 2017, construction prices rose 5.3 percent across New Zealand, led by a 6.5 percent increase in Auckland. "Prices fell for tomatoes, lettuce, and other salad foods". Prices also rose 3.1% in Wellington, and 5.8% in the rest of the North Island. Clothing prices fell 1.8%, led by lower prices for women's clothing (down 2.3%).

The CPI rose 3.5% in December 2017 from a year earlier, mainly because of costlier transport and food and non-alcoholic drinks.

"This [fall] partly reflects changing pricing structures, as major retailers have moved away from using short-term discounts or specials, to holding some prices consistently lower", the agency said.

Related News:

  • Samsung Galaxy S9's remaining secrets have been REVEALED ... on Samsung's own website

    Samsung Galaxy S9's remaining secrets have been REVEALED ... on Samsung's own website

    The latest leak has given up some details on the ISOCELL mobile imaging sensor that Samsung will be using inside the smartphones. Credit: Tom's GuideA person in China on Wednesday (Jan. 24) leaked a video purporting to show the Galaxy S9 in action.
    SpaceIL to Move Forward With Moon-Landing Mission Despite Cancellation of X Prize

    SpaceIL to Move Forward With Moon-Landing Mission Despite Cancellation of X Prize

    All successful trips to the moon have been government funded, and moon-based activity has been mostly scientific in nature. The Xprize Foundation, the independent organisation overseeing the contest , declined CNBC's requests for comment.

    Japan navy spots tanker alongside North Korean ship

    Half of the individuals are located in the Chinese cities of Dandong, Ji'an, Linjiang and Tumen near the China-North Korea border. Security Council has imposed stepped-up sanctions on North Korea as it continues to test-fire missiles and conduct nuclear tests.
  • SpaceX Falcon Heavy warms up LC-39A during static test fire

    SpaceX Falcon Heavy warms up LC-39A during static test fire

    SpaceX took another step closer to launch of its Falcon Heavy (FH) rocket today with an approximately 10 second static fire test. SpaceX founder and CEO Elon Musk tweeted afterwards that the test was "good" and the rocket will launch "in a week or so".
    This year's Google I/O will happen May 8-10 in Mountain View

    This year's Google I/O will happen May 8-10 in Mountain View

    The next Android version is usually introduced so brace yourselves for Android P related rumors in the next few months. There's a good chance we'll get this too, since Android Oreo entered beta during Google IO 2017 .
    'Padmaavat' protests: 50 supporters of Karni Sena detained in Mumbai

    'Padmaavat' protests: 50 supporters of Karni Sena detained in Mumbai

    The film is ready to be screened at the theatres after going through various controversies. Nobody even knew what they do or what they have for the community they so fondly represent.
  • CPI(M) mulling impeachment motion against CJI Dipak Misra

    CPI(M) mulling impeachment motion against CJI Dipak Misra

    Opposition parties like the Congress and the CPI (M) had called for a probe into the issues flagged by the four judges. He said it's the time to play the role of executive and said "we need to intervene".

    New iPhone update to show 'battery health' following slowdown controversy

    This latest update includes a feature that shows the health of your phone's battery , as well as if it needs to be serviced. Apple Music will be updated to house music videos, which will play back-to-back free from adverts, Apple confirmed.
    U.S.  oil price tops $65 for first time since 2014

    U.S. oil price tops $65 for first time since 2014

    The contract earlier hit $65.42, the highest level since December 8, 2014, when it touched $65.55 a barrel. Gasoline stocks climbed by 4.1 million barrels, while refinery crude runs fell by 420,000 barrels per day.
  • Qualcomm fined €999mln by European Union  for Apple mobile chip payments

    Qualcomm fined €999mln by European Union for Apple mobile chip payments

    As Apple Insider points out, fines are capped at a maximum of 10 percent of annual turnover under European Union rules. Qualcomm has also backed its promise to pay the fine with promissory notes, the commission added.
    Google Assistant Gets More Personal With Voice Match

    Google Assistant Gets More Personal With Voice Match

    Once bought, the items can be played over an app called Play Books, which works on Android, iOS, and the web. Assistant and audiobooks Google's also deeply integrating the audiobooks experience into Google Assistant.
    Real Madrid will try to sign Mohamed Salah - Egypt FA chief

    Real Madrid will try to sign Mohamed Salah - Egypt FA chief

    Real Madrid will make an offer for Liverpool forward Mohamed Salah in the summer, according to the president of the Egyptian FA.


Most liked

Pope Francis Compares Fake News to Snake in Garden of Eden
The pope also praised recent efforts by social media platforms to make users aware of false reports. Gen 3:1-15), which began the tragic history of human sin", he wrote.

Roma awaiting Chelsea's response for Džeko and Palmieri
NewsChelsea are closing in on a double raid on Roma for Edin Dzeko and Emerson Palmieri , with the duo set to sign on Thursday. Dzeko , 31, is keen to join Chelsea after seeking assurances from Conte that he will get first-team consideration.

Arsene Wenger Insists Alexis Sanchez Is Not A Mercenary
The 29-year-old also described his move as a "dream come true", saying that he had "always dreamt of playing for Arsenal". The inclusion of Olivier Giroud in the deal to bring Aubameyang to Arsenal is also very possible.

White House expected to field questions on immigration, Russian Federation probe
But over on Capitol Hill, Senate Minority Leader Chuck Schumer said talks on immigration and border security are "starting over". President Donald Trump spent the first two days of the shutdown, as well as Friday, hunkered down in the White House.

India PM: Climate change, terrorism, protectionism top global threats
Deve Gowda - was in Davos in 1997, the country's gross domestic product was just $400 billion, one-sixth of what it is now. On Climate change , Modi said that that extreme weather conditions were increasing day by day.

Trump to meet May, Netanyahu, Kagame in Davos: White House
McMaster said in Washington on January 23 that Trump will discuss North Korea, Syria, and the Iran nuclear deal with May. Trump is scheduled to meet with UK Prime Minister Theresa May following his arrival at the summit on Thursday.

"Murphy Brown" returning to CBS with 13-episode run starring Candice Bergen
The original comedy series ran for 10 years from 1988-1998, to much critical and popular acclaim along with a slew of awards. Bush-Bill Clinton presidential campaign when Quayle criticized a plot line that had the unmarried Brown having a child.

Gisele asked former MI player to convince Tom Brady to retire
Fans of the NFL's other 31 teams aren't the only people hoping New England Patriots quarterback Tom Brady hangs up his Uggs soon. Translation: Nobody is taking Brady's job in the near future barring a serious injury or a sudden and unexpected decline.

UCF's undefeated team to be honored by National Football League at Pro Bowl
So the timing could not have been better for UCF's ideal football season, opening the door for the timely recognition. They received a celebratory parade at Disney, and now they are being honored at the NFL's Pro Bowl .

North Korea reschedules army anniversary, may hold parade on Winter Olympics eve
Heavy security followed Hyon as she traveled across the South, and her visit triggered anti-North protests in Seoul this week. A series of events including concerts, joint training exercises and sporting demonstrations are planned around Olympics.

Apple may discontinue iPhone X around mid
Canaccord Genuity restated a "buy" rating and issued a $200.00 price objective on shares of Apple in a report on Wednesday. The cameras and sensors, which enable Face-ID and OLED screen, are the new technologies used in iPhone X .

'Crisco Cops' grease posts in Philly before Eagles-Vikings
A video of abusive Philadelphia Eagles fans taken Sunday by a Minnesota Vikings supporter has gone viral. Wentz was one of the main reasons the Eagles got a chance to play the championship game at the Linc.

Elton John's Fans React to His Retirement Announcement
John said discussions about no longer touring began with his family in 2015. "It's the way that I move / The things that I do". John, 70, launched his first tour in 1970 and boasts having performed over 4,000 times in more than 80 countries.

Smith, lead singer of The Fall, dies at 60
He was previously married to The Fall's American guitarist Brix Smith and then the band's fan club employee Saffron Prior. Sixth months later, when their second album, Dragnet (1979) was released, Smith was the only original member left.

Remains of 7 Ukrainians killed in Kabul hotel attack repatriated
Several Americans were killed and injured in a Taliban raid at a luxury Kabul hotel, US State Department have officials said. The siege ended Sunday, but not without significant damage and a awful human toll.