Malaysia's inflation rate in June decreased after the drop in the GST: survey, Business Insider

The new government scrapped the 6% consumption tax on June 1st.

Reuters

KUALA LUMPUR – Malaysia's annual inflation rate rose from 1.8% in June to 1.3% in June. The goods and services tax (GST), according to a Reuters poll

The 10 analysts poll Reuters estimated that inflation would be 0.6% to 1.9% in June.

The new government headed by Prime Minister Mahathir Mohamad after the May 9 general election, the 6% consumption tax was abolished on June 1st.

Economists have stated that the elimination of the GST has probably eased inflation in June, despite rising transportation and during the Muslim fasting month of Ramadan and subsequent celebrations of the month. Eid al-Fitr

the Malaysian central bank left its interest rate unchanged at 3.25% at a monetary policy meeting. July 11th.