"A continuous effort by the Government to keep the inflation rate as low as 2.4%... Malaysia’s inflation rate is the lowest in the world and this mirrors the government’s efforts in keeping the prices of essential goods low"
Deputy Prime Minister, Datuk Seri Najib Tun Razak
About a year or two ago, I used to spend about RM18 for the content of an average cooking gas (excluding the gas cylinder). About 3 weeks ago, I had to pay RM28 for a similar amount of cooking gas.
Within the same time frame, prices of other common household goods have also increased substantially. For example, a loaf of bread which used to cost RM1.80, now costs between RM2.30 and RM2.60.
In the construction industry, prices of cement, steel and many other materials have also increased. Prices of houses have also increased steadily over the recent yearsat least in Kota Kinabalu, Sabah.
Not forgetting the prices of fuel (which is of course soon to be revised, probably almost immediately after the general election).
Even if one were to have a meal in the coffee shop, he will feel the increase in prices of food and drinks: Teh-C ping (my favourite drink) used to cost RM1.60, but now RM1.80. Nasi campur in general cost 50 sen more per plate.
Hell, in fact almost everything a typical household would spend on has increased in price over the last year.
And although I haven't been doing A-Level maths for over 20 years now, it seems to me that the inflation rate in Malaysia is a whole lot more than the 2.4% announced by the good Deputy Prime Minister. I am sure the brilliant economists who compiled the data for the Minister have valid justifications for that figure. We are truly a lucky nationisn't it reassuring that Malaysia has the lowest inflation rate in the world?