According to the statistics department, Malaysia’s inflation rate rose to 3.2%, with the consumer price index going from 120.6 in December 2020 to 124.5 last month.

Mustapa said the government is aware that the rise in inflation has affected the cost of living of Malaysian families, especially those earning low incomes.

“The government has introduced various initiatives to address inflation and rising prices of basic necessities to ease the burden of the Malaysian Family,” he said in a statement today.

The initiatives include the allocation of RM31 billion in the form of subsidies in the 2022 budget.

“This includes providing subsidies for RON95 petrol, diesel, cooking oil and flour, as well as allocating RM200 million to lower the prices of essential goods in the villages,” he said.

The minister stressed that the government was always monitoring the price of goods, especially food items, and will take steps to avoid unreasonable increases to ease the people’s burden.