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The Producer Price Index, which measures wholesale prices, rose 0.5% in April, more than the expected increase of 0.3%. Core PPI, which excludes volatile food and energy prices, also increased by 0.5% compared to an estimated 0.2%. On a yearly basis, wholesale inflation rose over 2% in April, the biggest gain in a year. Services prices drove much of the wholesale inflation, and portfolio management costs increased sharply. Energy prices rose led by a jump in gasoline costs, while food prices declined. Hotter-than-expected inflation raises doubts about the Fed's ability to cut rates soon to achieve its 2% target.

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The budget is being criticised by the opposition and many economists for adding to inflationary pressures, but many ordinary people feel it's not doing enough to help them with the rising cost of living.

Budget criticised for adding to inflationary pressures

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Economy Minister Rafizi Ramli on Wednesday (May 15) said that the government is planning a mechanism to manage the cost of living and tame the country’s inflation.<br/><br/>He said the discussion on wages, cost of living and inflation has to be managed carefully. <br/><br/> WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline

Govt planning mechanism to manage cost of living, tame inflation, says Rafizi

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The government will announce the timeline for the rationalisation of diesel subsidies when it is ready as it wants to avoid speculative inflation, says Rafizi Ramli.<br/><br/>The Economy Minister said one of the main considerations for the diesel subsidy rationalisation is the sequencing, which is key in maintaining the balance between wage growth, putting money in the public’s pockets and inflation.<br/><br/>Read more at https://tinyurl.com/bdfapjh5 <br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline

Govt will announce timeline for diesel subsidy rationalisation when it is ready, says Rafizi

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