PM: Malaysia's inflation lowest in Southeast Asia

 

Malaysia continues to record the lowest inflation rate in Southeast Asia following the government's move to channel RM77 billion in total subsidies, according to Prime Minister Ismail Sabri Yaakob.

Ismail Sabri said this is amid the impact of global economic uncertainties and geopolitical crises on the cost of living in Malaysia.

"Rising prices of corn and fertilisers, as well as logistic costs, has led to an increase in prices of goods, as well as the inflation rate.

"However, Malaysia continues to see the lowest inflation rate within Southeast Asia as a result of the government's move to channel RM77 billion in subsidies," said Ismail Sabri in his speech to launch the Kelantan leg of the Jelajah Aspirasi Keluarga Malaysia in Kota Bharu, earlier today.

Among others, Ismail Sabri highlighted RM1.1 billion in subsidies to control the prices of chicken and eggs, as well as RM4 billion for packet cooking oil.

Malaysia's inflation rate had increased 2.8 percent year-on-year to 126.6 in the second quarter of 2022, and increased 2.5 percent year-on-year in the first six months of 2022, according to the Department of Statistics Malaysia (DOSM).

At the state level, DOSM said the highest increase in inflation was recorded by Wilayah Persekutuan Putrajaya at 8.1 percent, while Wilayah Persekutuan Labuan and Malacca were the two states with the lowest increase at 2.5 percent, respectively.

Also present during the event held at the Sultan Muhammad V Stadium in Kota Bharu were Kelantan Mentri Besar Ahmad Yakob and Communications and Multimedia Minister Annuar Musa.

Commenting further on the national roadshow, Ismail Sabri said previous editions were held in Johor, Perlis, Sabah, Terengganu and Perak, providing the people with direct access to various ministries and government agencies.

The Umno vice-president also attributed the programme's success as evidence that the 'Keluarga Malaysia' concept goes beyond a mere slogan.

"The Keluarga Malaysia concept is aimed at ensuring people from various races and religions in the country can continue to live in unity as one big family based on three core foundations - inclusion, togetherness and gratefulness.

"The concept and approach of Keluarga Malaysia is not something that is difficult to accept as it was based on existing values we practise in a family," he said. - Mkini