Malaysia Inflation Eases to 1-Year Low After May’s Rate Hike

Malaysia’s inflation rate moderated to the lowest level in a year, giving reprieve to central-bank policymakers who unexpectedly raised policy rates in last month’s meeting.

Consumer price index rose 2.8% from a year earlier in May, lower than the median estimate of 3% in a Bloomberg survey, official data showed Friday. The core measure, which excludes fresh food and government-administered price goods decelerated to 3.5%, with food prices rising 5.9%.