Malaysia’s consumer price index (CPI) deflated further to a record low, declining 2.9 percent in April to 117.6 as the movement control order (MCO) pushed prices of housing and transport lower.

Malaysian Industrial Development Finance (MIDF), in a research note, said the Malaysian consumer price deflation recorded at -2.9 year-on-year (yoy) in April was far lower than market forecast of -1.5 percent yoy.