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Headline inflation moderates to 2.2pc in February on lower transport cost, says BNM
The logo of Bank Negara Malaysia is seen at its headquarters in Kuala Lumpur June 30, 2017. — Picture by Yusof Mat Isa
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KUALA LUMPUR, March 31 — Headline inflation moderated to 2.2 per cent in February from the 2.3 per cent recorded in January, reflecting lower inflation in the transport segment at 3.9 per cent from 6 per cent in January, Bank Negara Malaysia (BNM) said.
The underlying inflation, as measured by core inflation, was higher at 1.8 per cent during the month, higher than January’s1.6 per cent, driven mainly by food away from home and rental.
“Export growth remained strong in February, growing by 16.8 per cent (January: 23.9 per cent), reflecting continued strength across Malaysia’s export products,” BNM said in its monthly highlights for the month of February 2022.
Moving forward, the export sector would continue to benefit from the expansion in external demand and global technology upcycle, the central bank said.
In addition, high commodity prices will provide support to export growth.
Nonetheless, the trade outlook remains contingent on the path of the pandemic, global supply chain disruptions as well as risks surrounding the global growth outlook amid the military conflict in Ukraine. — Bernama