The core inflation, which excludes private transport and accommodation, rose sharply by +5.1%yoy in Aug-22 (Jul-22: +4.8%yoy), recording the highest increase since Nov-08 and exceeding the market consensus.
Looking ahead, economic performance across the region could be compromised by slowing global demand, rising debt, and a reliance on short-term economic fixes to cushion against food and fuel price increases.
Food inflation rose by 7.2%, the highest ever recorded in a failure by the gov't to contain prices and sure, someone will say it is good for the population
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On the home front, the FBM KLCI closed lower attributed to continued selling from the foreign funds. As sentiment is expected to remain cautious, we reckon the index to trend within a narrow range of 1,435-1,450 today.
Close to 81% of the exports growth in Aug-22 was attributable to sustained foreign demand for E&E, oil & gas and palm oil products
For decades, natural gas has played a key role in driving the nation’s socio-economic development where the rapid rise in GDP was in tandem with the growth of natural gas consumption