Malaysia's inflation rate among lowest in the world, says Annuar Musa

PETALING JAYA: Malaysia’s inflation rate remains among the lowest in the world due to the government’s commitment to controlling the prices of goods and necessities, says Tan Sri Annuar Musa.

The Communications and Multimedia Minister said while many advanced nations were facing double-digit inflation, Malaysia was able to keep its rate at 2.8% due to government intervention.

ALSO READ: Govt launches special team to address rise in cost of living

“We are grateful that our country has one of the lowest inflation rates in the world. The inflation rate of 2.8% is among the lowest in Asean and a lot lower than many advanced nations.

“Perhaps many people are not aware that this is due to the government’s commitment to control the rising price of goods and necessities by providing subsidies.

“The Finance Ministry has projected that the country will be spending more than RM70bil on subsidies in 2022.

ALSO READ: Prices of chicken and eggs go up

“This is more than what the Parliament had approved last year for subsidies, which was RM33bil.

“But the government will continue to pay for subsidies to ensure that the rakyat are not badly affected by rising prices of goods and also to ensure the country’s inflation rate remains low,” said Annuar at a press conference in Putrajaya on Thursday (June 30).

Annuar was speaking after chairing the first meeting of the special task force against inflation here.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Six reminders for SPM results day
Ideas president: Institutional reforms can revamp policymaking
Shophouse blaze claims the lives of three family members
Operating theatres at heart centre to be up and running in June
Experts: EFT scheme needs more funds and transparency
Gig workers law to be tabled July
Putting Keningau on the map
Parental vigilance is the price of safe holidays
Presenting M’sian arts in all their rich diversity and heritage
Trade with Land of the Rising Sun to rise again, says Zafrul

Others Also Read