Malaysia's inflation rate in May dropped to a 51-month low.

In Malaysia, the consumer price inflation rate in May slowed to its lowest level in 51 months, continuing a long-term trend of cooling inflation, which has increased market expectations of a possible interest rate cut by the country's central bank. Malaysia's statistics department announced on Tuesday that the consumer price index in May rose by 1.2% year-on-year, lower than the 1.4% increase in April, mainly due to a slowdown in the prices of food and utilities. Economists had previously expected Malaysia's inflation to remain stable, which could bring the country closer to initiating a monetary easing policy. The Malaysian central bank is one of the few central banks that have not yet joined the global interest rate cut cycle.