KUALA LUMPUR: Maintaining inflation within the 2.0-3.0 per cent range is crucial for continued national economic growth, said Deputy Minister of Economy, Datuk Hanifah Hajar Taib today.
During the question and answer session in the Dewan Rakyat, she said that the government will continue to monitor and ensure that the prices of essential goods remain stable and will provide subsidies if necessary.
“In terms of implementation, we will always prioritise the people’s welfare,“ she added.
She said this in response to a supplementary question from Datuk Awang Hashim (PN-Pendang) regarding the steps taken by the government through the Ministry of Economy to control the nation’s inflation rate.
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The country’s inflation rate continued to moderate in August 2024 at 1.9 per cent, and has remained below 2.0 per cent since July 2023.
Fundamentally, Hanifah Hajar said that a moderation in the inflation rate does not imply a decrease in prices but rather a slower rate of price increase.
Earlier on, she noted that ongoing global geopolitical tensions and the improving outlook for the country’s gross domestic product growth in 2025 are expected to exert pressure on the inflation rate.
She added that the government will continue implementing various initiatives to ease the cost of living for people affected by inflation.
This includes short-term measures like the ongoing government cash assistance programmes, such as the Rahmah Cash Aid and the Household Living Aid, which will see increased allocations in 2025.
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