By Zareef Muzammil
PETALING JAYA, July 6 — Inflation rate in Malaysia recorded a decline for seven consecutive months since the Unity Government took over federal power, Economy Minister Rafizi Ramli revealed.
He said this is a marked improvement compared to when Perikatan Nasional (PN) was at the helm, with inflation increasing by one-fold every month between April and July last year.
"In April last year, inflation was at -2.0 per cent, increasing to 0 per cent in May, and 2 per cent in June, before peaking at 4.7 per cent in July. This means inflation doubled from month to month," he said during the Jelajah Madani programme, here, last night.
"When we took over, inflation was at about 4 per cent in December. But for seven consecutive months, it has declined, now at its lowest rate of 2.8 per cent."
Addressing a crowd numbering in the hundreds, Rafizi, who is Parti Keadilan Rakyat deputy president, also refuted allegations that prices of goods have increased exponentially since the Unity Government came into power.
Instead, he stressed that the government has continuously attempted to stabilise prices following the failure of the previous PN administration to address the issue during its 33 months in Putrajaya.
"When exactly did prices of goods skyrocketed the most? It was during their (PN) time, not ours. That is why it is now the duty of this government to draw up policies so that prices don't spiral further.
"We know that if the prices of goods go up, especially food, it will be difficult to come back down," he said.
