PORT DICKSON: Prime Minister Datuk Seri Anwar Ibrahim said the government will prioritise strategies to stabilise inflation and address the rising cost of living in Budget 2025.
He said under the MADANI government, the inflation rate is holding steady at two per cent, with Gross Domestic Product (GDP) growth for the second quarter of this year at 5.9 per cent.
“I just returned from Vladivostok, Russia (where) I met President Vladimir Putin. Questions were raised about our inflation rate, which is at two per cent, while some food sectors see inflation at three to 3.5 per cent. Even that has been a challenge to manage.
“My focus and strategy for the Budget (presentation) in October is to find solutions to the cost of living issues... Although, compared to neighbouring countries like Thailand, Indonesia and Singapore, our inflation is relatively low,” he said.
He said this in his speech when officiating the national-level 2024 ‘Bulan Malaysia Sihat Sejahtera’ month celebration, also attended by Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun and Health Minister Datuk Seri Dr Dzulkefly Ahmad here today.
In this regard, Anwar said the government is committed to prudent economic management, ensuring there is no wasteful spending in various sectors.
Based on the Department of Statistics Malaysia’s Consumer Price Index (CPI) report for July this year, Malaysia’s inflation rate has remained at 2.0 per cent since May.
The department said the inflation rate was driven by price increases in key categories, including restaurants and accommodation services (3.4 per cent); personal care, social protection and miscellaneous goods and services (3.2 per cent); recreation, sports, and culture (2.2 per cent); and health care (1.9 percent).
