While the rest of the world is trending downward (on inflation) in 2024, Malaysia is doing the opposite. Inflation for 2024 is self or government generated. Rise in SST, rise in water and electricity tariffs, decline in exchange rate, narrowing trade surplus, rise in oil prices, increase in other costs, will lead to a higher inflation scenario for 2024. Under current circumstances, the cost of living is barely “bearable” for some and yet we are bent on making things worse. The rich, elite have no concern. Why? They are hardly impacted by all the so-called targeted increases. Couldn’t we have delayed the self-generated increases by a year at least?
Reference:
BNM Annual Report, 2023
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