Malaysia's May CPI rises 4.4% y/y, below forecast

KUALA LUMPUR, June 25 (Reuters) - Malaysia’s consumer price index (CPI) rose by less than expected in May, expanding 4.4% from a year earlier, government data showed on Friday.

Economists surveyed by Reuters had expected the index to increase 4.7% year-on-year, unchanged from April, when it grew at its fastest pace in four years.

The increase in May’s CPI was driven mainly by higher transport costs, with the sectoral index rising 26% on-year, the Statistics Department said in a statement.

Higher prices were also seen for housing and utilities, household furnishings and maintenance, and food and non-alcoholic beverages, the department said.

Reporting by Rozanna Latiff; Editing by Ana Nicolaci da Costa