Prices of basic goods dipped lowest in April since last year; fuel records sharpest drop
Wednesday, 20 May 2020 12:39 PM MYTA Caltex petrol station at Jalan Pahang is pictured during the second phase of the movement control order on April 1, 2020. — Picture by Hari Anggara
KUALA LUMPUR, May 20 — Malaysia’s consumer price inflation dropped 2.9 percentage points in April compared to the same period last year, with fuel recording the sharpest drop, official figures released showed today. The Department of Statistics’ latest inflation data marks the lowest monthly year-on-year consumer price index rate, but was expected as the Covid-19 pandemic hit the world and domestic economy hard.
Fuel accounted for the biggest CPI decrease at 21.5 percentage points, underscoring the global rout in oil prices as governments restricted travel and movement. Nearly half the world was placed under some form of lockdown after the novel coronavirus epidemic peaked in February and March, rendering planes, public transport, and even private vehicles mostly grounded.
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