MIDF Research raises CPI forecast, higher food inflation expected

MIDF Research has upgraded its Consumer Price Index (CPI) forecast for the year to 2.5 percent from 2.1 percent previously on the expectation of higher food inflation following the surge in global commodity prices.

The research house said Malaysia’s inflationary pressure is expected to be affected indirectly by the rising commodity prices, especially higher food inflation at 3.5 percent compared to its initial projection of 2.3 percent.

“Looking ahead, we expect Malaysia’s domestic food inflation to...