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Malaysia's November CPI drops 1.7% y/y, more than forecast

KUALA LUMPUR, Dec 23 (Reuters) - Malaysia’s consumer price index (CPI) fell 1.7% from a year earlier in November, mostly due to lower fuel prices, government data showed on Wednesday.

The median forecast among nine economists surveyed by Reuters was for the index to decline 1.5% on-year, matching the rate posted in October.

November’s decline was driven by an 11.1% on-year drop in the transport sector index as well as lower housing, water, electricity, gas and other fuel prices, the Statistics Department said in a statement. (Reporting by Rozanna Latiff; Editing by Himani Sarkar)

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