Malaysia: Inflation Rate Rises to 3.8 Percent in May 2008
Today Domestic Trade and Consumer Affairs Minister Shahrir Abdul Samad informed the public that consumer prices rose by 3.8% in May 2008.
After the increase of fuel prices on June 5th, Malaysia’s central bank Governor Zeti Akhtar announced that Malaysia’s inflation rate may reach 5% in June 2008. For next month analysts expect electricty rates to rise. This will put additional pressure on Bank Negara Malaysia to increase interest rates to curb inflation. The next regular meeting of the central bank is scheduled for July 25th, 2008.
