Malaysia’s annual inflation accelerated slightly to 1.4% in November 2025, up from 1.3% in October but below market expectations of 1.5%. Inflation picked up for alcoholic beverages & tobacco (2.4% vs 0.3% in October) and education (2.6% vs 2.4%), while rebounding for transport (0.2% vs -0.1%). Meanwhile, inflation held steady for food prices (1.5%), remaining at the softest pace in over four years, as well as for financial services (5.6%), health (1.5%), recreation (1.2%), and restaurants (3.4%). Prices moderated for housing (0.7% vs 1.1%), furnishing (0.2% vs 0.3%), and miscellaneous items (5.6% vs 6.0%), amid declines in clothing (-0.1% vs -0.3%) and communication (-1.3% vs -2.4%). Core inflation, which excludes volatile fresh food and administered prices, rose 2.2% year-on-year, the same pace as in October, remaining the fastest in two years. On a monthly basis, consumer prices were unchanged after edging down 0.1% in October.