The Malaysian Insight

PUTRAJAYA must bear full responsibility if prices of daily necessities are not brought down by next month, said Lim Guan Eng.

The DAP secretary-general said the current inflation rate does not reflect the price tags of items in the market.

“The 2.9% increase in inflation rate last month, compared with the 2.2% in September, does not reflect the surge in prices of construction costs involving labour and material, daily necessities, as well as flight tickets to Sarawak.

“The prices of basic necessities such as chickens have risen to the highest levels in memory, much higher than when Pakatan Harapan was in government,” said the former finance minister in a statement.

Prices must be brought down by December 9, he added.

Lim noted that the declining strength of the ringgit against the US dollar – at RM4.24 to US$1 – does not help mitigate the negative effects of imported inflation.

Domestic Trade and Consumer Affairs Minister Alexander Nanta Linggi had earlier said the government is working to ensure no disruption in the food supply chain, as this will lead to a surge in food prices.

Various factors can cause an increasing price trend, including a rise in demand and cost of delivery, foreign exchange, the weak growth of exporting countries and weather, he added.

He said the government needs time to tackle the price hikes as they involve multiple agencies and ministries, adding that the issue is affecting the whole world, not just Malaysia. – November 27, 2021.