Malaysia's Dec. CPI falls 1.4% year-on-year, in line with forecast

KUALA LUMPUR (Reuters) - Malaysia's consumer price index (CPI) fell 1.4% from a year earlier in December, largely due to lower fuel prices, government data showed on Friday.

The drop in the CPI was in line with the median forecast by 10 economists surveyed by Reuters. In November, the index had fallen 1.7%.

December's decline was driven by an 8.4% drop in the transport sector, as well as lower housing, water, electricity, gas and other fuel prices, the Statistics Department said in a statement.

(Reporting by Joseph Sipalan; Editing by Subhranshu Sahu)