Prices of goods still low in Malaysia compared to that of USA and UK, says Minister


Screenshot 20220526 125604 Facebook

KUALA LUMPUR: Inflation rate is still very low and under control in Malaysia compared to USA and UK.

This is due to the control of raw material prices and the subsidies provided by the government, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.

He said the inflation rate in Malaysia stood at 2.2 per cent in March 2022.

“(Inflation) in the United States has hit 8.3 per cent (in April) while in the United Kingdom, it was 9.0 per cent.

“Thankfully, our inflation rate is low due to price controls and subsidies such as those for cooking oil and fuel. For example, the actual oil price is more than RM4 a litre, but the people only have to pay RM2.05 per litre for RON95 and RM2.18 per litre for diesel,” he told the media in an event today.

Malaysians have been complaining lately about the sudden increase in prices of essential goods such as fish, chicken, meat, and vegetables. – Malaysia World News



Graduate with a Master of Mass Communication. 10 years working experience in the media and broadcasting.

more recommended stories