Malaysia’s annual inflation rate rose to a 14-month high of 4.4% in July 2022, a whopping 100bps increase from the previous month of 3.4%. The increase in July was in line with market consensus of 4.4% due to a surge in food prices to a new record peak of 6.9% after rising 6.1% in June.
Meanwhile, producer prices rose to 7.6% year-on-year in July 2022, slowing down from a 10.9% gain in June. Lastly, prices of manufacturing slowed down to 9.9% growth, compared to 10.0% in June.
