COMMENT | Amid the challenging economic condition originated from the pandemic, many people have also been struggling to cope with the cost of living which do not appear to be in the same trend with the incomes of many Malaysians as they have been severely affected due to cost-cutting measures by their employers.
Therefore, this calls for compatible and sustainable solutions.
Although inflation is trending at low levels, the cost of living is said to extend beyond prices. According to the World Bank’s study, the issues pertaining to cost of living include stagnant growth in incomes, elevated household debt as well as unaffordable housing.
Based on the statistics from the Statistics Department (DOSM), mean household income at the national level grew by 4.3 percent in the period between 2016 and...