Inflation rate increased to 4.4 per cent as July, among the lowest in the region – Minister Annuar

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PUTRAJAYA: The inflation rate has increased by 0.6 per cent to 4.4 per cent as of July 2022 and among the lowest compared to the neighbouring countries with Thailand recording 7.6 percent, Singapore (7.0 percent) Philippines (6.4 per cent) and Indonesia (4.9 percent).

Chairman of Special Committee Jihad Against Inflation, Tan Sri Annuar Musa said, the inflation rate of United Kingdom is 10.1 percent, Europe (8.9 per cent) and United States of America (USA) has recorded 8.5 percent.

Annuar who is also the Minister of Communications and Multimedia said, the Committee had studied that food including chicken, eggs and oil are among the contributing factors towards the rise of inflation.

“Eating outside the house including hotels, cafés and restaurants have also contributed to inflation rate to increase besides the cost of transportation as a result of the global increase in the price of oil. The price of petrol RON97 had increased more than 40 percent recently.

“The government has also paid a subsidy of RM5.8 billion to prevent the electricity tariff from increasing. With all the payments the cost of subsidies have increased from RM33 billion to RM77 billion this year,” Annuar said in a press conference today.

the maximum price of round and fresh chicken at RM9.40 per kg that had been fixed until 31st Aug.2022, Annuar said, the Cabinet Ministers’ Meeting had decided the price remains until further announcement is made by the government. The price of egg remains the same with the subsidy of 3 cent per egg.

On the export of chickens to Singapore, Annuar said, about more than 100 Singapore accredited farms are operating in Malacca and Johor and only these farms are allowed to export up to 50per cent of the needs.

On the development of “Jualan Murah Keluarga Malaysia” (JMKM), the Minister said, the Committee has fixed 15th Sept.2022 to be the benchmark for the five ministries that have been selected to implement the JMKM nationwide.

“Currently almost 200 out of 660 venues selected had implemented the JMKM and this includes an additional of 21cooperative networks in the university campuses nationwide.

“The government has allocated RM80 million for the JMKM to be implemented by which direct grant is used to enter the shops for selling goods at discounted rates,” Annuar said.

The Minister also mentioned on the Cabinet Ministers’ Meeting decision to approve the MARA scholarship of students in the country and overseas to be reviewed as the rate of inflation has increased recently. – Malaysia World News

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