Subscribe in a reader | Subscribe by Email Well, some tell me inflation in Malaysia is actually between 7 and 8%, not sure how those figures were obtained. But how many of us actually believe that inflation in malaysia is below 3%? Petrol price increased 50 sen in last three years, but still under control. But prices of many foodstuff (raw and processed) has increased tremendously. We are getting less for the same amount of money we spend. the mee goreng portion looks smaller, the teh tarik looks lighter.
But i understand that cost of things in Singapore is also increasing steadily. they are affected by the global prices increases as well.
‘Malaysia has lowest inflation rate in region’
GEORGE TOWN: In spite of the global rise in the prices of goods, Malaysia still has one of the lowest inflation rates in the region.
Tax analysis department secretary in the Finance Ministry, Datuk Aziyan Bahauddin, said the low inflation rate was due to the high subsidy provided by the federal government.
She said the inflation rate in the country stood at 2.8 per cent compared with other countries such as Indonesia (8.2 per cent), the Philippines (6.4 per cent), Singapore (6.7 per cent) and Thailand (5.3 per cent).
Aziyan was speaking at a public forum on “Price Increase and the People’s Welfare: Current and Future Steps” held at the Universiti Sains Malaysia (USM) here yesterday.
The forum was organised by the Institute of Strategic and International Studies (ISIS), with the co-operation of USM. Also present was ISIS chairman Datuk Seri Mohamed Jawhar Hassan.
Another panellist, Economic Planning Unit’s director of the macroeconomic division, Nik Azman Nik Abdul Majid, noted that the federal government provided various subsidies and assistance to the people.
“Last year alone, the government provided RM43.49 billion in subsidies and assistance to the people.
“This high subsidy is a factor why our inflation rate is still one of the lowest in the region,” he said.
