Malaysia October inflation rate increases

People buy groceries at a wet market in Malaysia's northern town of Ipoh on Nov 11, 2016.
People buy groceries at a wet market in Malaysia's northern town of Ipoh on Nov 11, 2016. PHOTO: AFP

KUALA LUMPUR (REUTERS) - Malaysia's consumer price index increased 1.4 per cent in October from a year earlier, slightly slower than the previous month's pace, government data showed on Friday.

Data from the Statistics Department showed increase in prices for food, alcoholic and non-alcoholic beverages, tobacco and housing, which were offset by lower transport and communication costs.

Annual inflation reached a seven-year peak of 4.2 per cent in February, but has since moderated as the effects of a goods and services tax imposed in April 2015 fade.

Earlier this month, Malaysia's central bank said inflation had moderated to 1.3 per cent in the third quarter.