Cost of accommodation and F&B services picking up from the previous quarter, says MIDF Research.
Malaysia’s services producer price index grew 1.4% in Q3 2023, the slowest growth recorded over the past six quarters.
A renewed rise in cost pressures, it said, could potentially lead to re-acceleration in consumer price inflation in the coming months. Apart from subsidies rationalisation, the government is also seeking to raise the services tax to 8% next year, from the existing rate of 6%. MIDF Research has forecasted headline inflation to accelerate to 3.5% in 2024, after moderating to an estimated 3% this year.
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