Malaysia's Minister of Economy Rafizi Ramli (Photo: Bernama)
KualaLumpur (VNA) – Malaysia’s inflation has dropped to 3.7% in Januaryfrom 3.8% in D🤪ecember last year, Minister of Economy RafiziRamli has said.
Month-to-month inflation was maintained at 0.2% in the month, the minister said, attributing a hike in January inflation to the increase in the food andnon-alcoholic beverage group. However, he said, it moderated to 6.7%, comparedto 6.8% in the previous month. Theprice of housing, water, electricity, gas and other fuels group remained unchanged at 1.5% while that oftransport services decreased to 4% from 4.9% in the previous month. Notably, the price of goodsduring the Chinese New Year season saw a 0.2% month-on-month increase in 2023,which is lower than the 0.3% and 0.4% rises of the corresponding month in 2021 and2022, respectively. This is very encouragingbecause it demonstrates that Malaysia has succeeded in slowing the rate ofprice increases in face of global supply chain constraints and seasonal demandspikes, Rafizi said. According to the minister, his ministry will continue the PriceStandardisation Programme this year to help stabilise prices of seven essentialgoods, namely white rice, sugar, cooking oil, wheat flour, liquefiedpetroleum gas (LPG), RON95 petrol and diesel. Rafizi also pledged to keepfood prices affordable by implementing a multi-pronged strategy that affectsthe entire food chain, from raw materials to food consumed outside the home./.
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Malaysia's Minister of Economy Rafizi Ramli (Photo: Bernama) 
