May CPI up 2.4%

From The Edge:

The Consumer Price Index (CPI) for May 2009 registered a 2.4% increase year-on-year from 109.1 to 111.7, said the Department of Statistics Malaysia.

On a month-on-month basis, the index rose 0.2%, it said.

In a statement June 17, the department said the CPI for January to May increased by 3.3% to 111.7 compared to 108.1 in the same period last year.

"The index for food and non-alcoholic beverages for the month of May 2009 compared to the same month in 2008 showed an increase of 5.2%, while the index for non-food registered change by 1%," it said.

Inflation would seem to be showing up in Malaysia despite the recession. Can BNM afford to keep interest rates low? With food being such a large part of the overall basket of goods, we should keep an eye on it more so than developed countries.