CPI and LI CONSUMER price index (CPI) is the focus in this four-day week. The Statistics Department is due to announce inflation data for June 2021 and leading index (LI) for May 2021 on Friday. The CPI increased by 4.4% in May 2021 to 123.1, against 117.9 in the same month of the preceding year. Inflation rate is expected to be 5.4% by the end of this quarter, according to Trading Economics’ global macro models and analysts expectations. Meanwhile, Bank Negara will announce its international reserves as at July 15 on Friday. The international reserves of Bank Negara amounted to US$111.1bil as at June. The reserves position is sufficient to finance 8.2 months of retained imports and is 1.1 times total short-term external debt. Bursa Malaysia and its subsidiaries will be closed tomorrow, in conjunction with Hari Raya Haji. Bank Indonesia decision A poll of five analysts by Bloomberg expects no change to Bank Indonesia’s (BI) 0.50% rate. Going forward, UOB is of ... » Learn More about The Week Ahead – CPI, Bank Indonesia, PMIs, corporate earnings
KUALA LUMPUR: The country’s inflation rate, as measured by the Consumer Price Index (CPI), rose by 3.4% in June, due to higher fuel prices when compared with a year ago, but the increase was lower than a survey of 3.5%. Thirteen economists polled by Reuters had forecast the index to increase 3.5% year-on-year. The index in April rose at its fastest pace in four years. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said on Friday the CPI rose by 3.4% in June to 123.2 when compared with 119.1 a year ago. “CPI remained positive for the fifth consecutive month since February 2021 due to the lower base effect last year as a result of the decline in fuel prices for private vehicles,” he said. Transport group (16.6%) was the main contributor to the increase in the headline inflation. This was followed by housing, water, electricity, gas & other fuels (3.2%); furnishings, household equipment & routine household maintenance (2%) and food & non-alcoholic beverages (1.3%), ... » Learn More about June CPI rises 3.4% on-year, slightly below forecast
PETALING JAYA: Some Malaysians may have rushed to stock up on essential items due to the movement control order (MCO) but the average prices of many goods have remained stable so far, according to figures from the Statistics Department. Each month the department releases Consumer Price Index (CPI) figures and related data which includes among others a list of the average prices of 100 items ranging from raw food to household appliances. An analysis of the figures for March shows no major increases in average prices compared to the previous months, with 53 items on the list recording slightly lower average prices. The MCO started on March 18 and has since been extended three times. The fourth phase, which starts on April 29, will end on May 12. Amid reported shortages of certain items such as bread and toilet paper which is said to be due to panic buying, other items namely fish, seafood and vegetables saw a drop of between 20 sen to RM1.00 in average prices per kg. ... » Learn More about Have prices of essential items gone up or down during the MCO? Find out here!
KUALA LUMPUR: The ringgit is expected to trade in a tight range between 4.20 and 4.22 next week weighed by the continuous rising of COVID-19 cases in the country and cautious sentiment ahead of the US Federal Reserve policy meeting. Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the market’s major focus next week would be the US Federal Reserve’s two-day policy meeting that is scheduled to wrap up on Thursday. "The last meeting was on June 16 where US Fed (Federal Reserve) officials cited that COVID-19 will be a drag on the economy and since then, cases have been rising due to the Delta variant. "Notwithstanding this, the market is still expecting the meeting to produce some advancement in the discussions for a tapering of stimulus,” he told Bernama. He said the US also had an earlier strong vaccination drive which could perhaps prevent a wider spread of the Delta variant. "If this were to be the case we expect the dollar index to rise and subsequently lead to a ... » Learn More about Ringgit to trade in tight range vs US$
SINGAPORE: The consumer price index (CPI) of leafy and fruit vegetables increased by less than 1 per cent in June, said Minister for Trade and Industry Gan Kim Yong in a written parliamentary reply on Monday (Jul 26). He was responding to a question from Member of Parliament Liang Eng Hwa (PAP-Bukit Panjang), who asked if prices of vegetables and fresh produce imported from Malaysia have risen since June and why. Mr Gan said that the Ministry of Trade and Industry (MTI) does not capture the CPI for specific food sources, but he noted that Malaysia is a source for Singapore's supply of vegetables. The "small increase" in prices was likely due to increased business costs as a result of Malaysia’s recent enhanced movement control orders (EMCO), as well as seasonal weather that reduced crop supply, he added. To mitigate the impact of such supply fluctuations, Mr Gan said Singapore has been diversifying its import sources of vegetables and produce to keep prices stable. He added ... » Learn More about Consumer price index of vegetables rose by less than 1% in June: MTI
The Federal Reserve said it is not yet time to end its easy money policies meant to help the US economy recover from the Covid-19 pandemic. WASHINGTON: The US economy is showing signs of progress in its recovery, but not enough to end the easy money policies implemented last year, the Federal Reserve said Wednesday. Widespread vaccinations have helped boost business activity and employment, though the sectors hardest hit by the Covid-19 pandemic "have shown improvement but have not fully recovered," the Fed's policy-setting Federal Open Market Committee (FOMC) announced following its two-day meeting. The central bank cautioned that "risks to the economic outlook remain" and said it will monitor the economy's progress before pulling back on its bond buying program. Noting its goal of returning to full employment and inflation above two percent over the longer term, "The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved," ... » Learn More about Fed says US economy showing progress but ‘not fully recovered’
Malaysia: King disappointed Emergency Ordinances revoked without his consent Covid-19: 17,170 new cases on Thursday (July 29) Anwar claims country in constitutional crisis, calls for PM's resignation Parliament adjourns temporarily after statement from Palace Perikatan govt still intact with support of 110 MPs, says Ismail Sabri Zafrul: Govt to strengthen fiscal position, broaden revenue base Opposition thrown into outrage following Istana Negara statement Zafrul: Projection for 2021 GDP to be revealed in August Singapore: Speech by US Defence Secretary 'distorted facts': China embassy in Singapore 129 new locally transmitted Covid-19 cases in Singapore, 30 linked to Jurong Fishery Port Singaporean studying at top British university convicted of filming women, in toilets Allowing egg freezing in Singapore among recommendations in PAP paper on women's issues Cost of being unprepared for next pandemic will be too great: Singapore Defence Minister ... » Learn More about Asean News Headlines as at 9pm on Thursday (July 29)