Malaysia saw a decline in inflation for 2024, with headline and core inflation recorded at 1.8%.
Lower than the previous year, when the rates were 2.5% and 3.0% respectively.
Bank Negara Malaysia (BNM) reported that inflation continued to decline in the final quarter of 2024, reaching 1.8% compared to 1.9% in the previous quarter.
The decline was due to lower costs for mobile communication services and RON97 petrol.
However, food prices, especially for vegetables, fish, and seafood, increased.
Core inflation also fell to 1.7% in the fourth quarter, largely influenced by a 10% drop in mobile communication services.
The number of Consumer Price Index (CPI) items with price increases remained below the long-term average, indicating moderate price increases.
For 2025, inflation is expected to remain under control as global costs stabilize, but policy changes could cause costs to soar again.
