Malaysia’s 2023 headline consumer price inflation will stay between 2.5–3%

MALAYSIA’S headline consumer price inflation is expected to moderate to between 2.5 and 3% in 2023, compared to 3.3% estimated for 2022, mainly driven by the easing of global supply constraints and the stabilising of commodity prices. 

The World Bank said the forecast is premised on the assumption that the ceiling on retail fuel prices and price control measures on selected food items will remain in place throughout the year, limiting cost pressures from the prevailing global oil and food prices.