Food inflation rates stays low
Malaysia's food inflation rate fell to 4.6 per cent in May, compared to 4.9 per cent in the previous month, Deputy Domestic Trade, Cooperatives and Consumerism Minister Tan Lian Hoe told Dewan Negara today.
Malaysia's food inflation rate fell to 4.6 per cent in May, compared to 4.9 per cent in the previous month, Deputy Domestic Trade, Cooperatives and Consumerism Minister Tan Lian Hoe told Dewan Negara today.
She said this rate is lower when compared with other countries such as Thailand (8.4 per cent), Indonesia (10.2 per cent), China (11.7 per cent) and South Korea (6.2 per cent).
"Inflation is not only caused by increased prices of food items like sugar, but also their supply," she said, in response to a question from senator Mariany Muhammad Yit.
She said inflation was an issue that needed to be tackled by all quarters, including consumers, and not just the government.
Tan suggested consumers obtain prices of goods from the 1Malaysia Smart Consumer Portal, www.1pengguna.com, and compare them with prices at hypermarkets, supermarkets, wet-markets and 24-hour convenience stores, using the Price Watch application.
She added that one of the initiatives by the ministry was the formation of the Price and Supply Cabinet Committee, to address issues of supply, price and services, and implementation of the Price Control and Anti-Profiteering Act 2001, enforced on April 1.
"The Buy Malaysian Goods Campaign, which began on May 25, is also seen as a step to encourage Malaysians to buy local products in an effort to curb imported inflation," she said.
- Bernama

