Deputy minister Fuziah Salleh said the ministry is keeping a close watch on prices of goods and services to ensure that consumers are not unduly burdened.

“We understand that global geopolitical factors affect costs worldwide, but the ministry monitors prices daily to ensure that no party takes advantage,” she told reporters after the closing ceremony of the National Level Young Entrepreneur Programme 2026 here.

Fuziah said the ministry would continue engaging with industry players to obtain their feedback on the current market situation.

Recently, the Malaysian Muslim Restaurant Owners Association said restaurant operators were facing an increase in operating costs of between 10% and 30% due to global economic pressures.

Separately, the Federation of Malaysian Hawkers and Traders Associations had said food prices could rise by up to 50% due to increasing fuel and operational costs.