Executive Director of Mier Zakariah Abdul Rashid speaks at the 23rd Corporate Economic Briefing in Kuala Lumpur April 17, 2018. — Picture by Miera ZulyanaKUALA LUMPUR, April 17 — Malaysia’s inflation rate is set to dip to 3 per cent in 2018 on the back of the local currency’s recovery, according to the Malaysian Institute of Economic Research (Mier).
“The rate of inflationary pressure is expected to go down as we can see in the first two months of the year already witnessed lower rate of headlines inflation, (increasing by) 2.7 per cent in January and 1.4 per cent in February,” Mier executive director Zakariah Abdul Rashid said.
Zakariah was speaking during the Mier economic briefing for the first quarter of 2018 today.
The ringgit’s recovery will also help offset the effects of rising oil prices, he said.
Bank Negara Malaysia raised the overnight policy rate (OPR) by 25 basis points in January to curb rising inflation.