MALAYSIA'S annual inflation rate jumped to a 26-year high of 7.7 per cent in June due to a substantial rise in fuel rices, according to official data released on Wednesday.
Tan Seri Nor Mohamed Yakcop, second finance minister, had already said that a 41 per cent hike in subsidised fuel prices last month was set to boost inflation in June and July.
The figure came as something of a surprise as economists had predicted June inflation of 6.6 per cent. -- AFP
6 hours ago
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