Govt initiatives to help cushion effects of inflation: Hamzah

PUTRAJAYA: The government's initiatives such as 'Jualan Sentuhan Rakyat' is expected to cushion the effects of inflation, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin, today.
"Many parties have benefitted from the programme which helps the rakyat purchase necessary goods such as chicken or rice at lower prices compared to the national average pricing," he told reporters during the announcement of Malaysia's Consumer Price Index (CPI) for the month of January at the ministry, today.
While the national average price for chicken would be between RM8.50 to RM9 per kg, Hamzah said under the 'Jualan Sentuhan Rakyat' programme, the price would be at RM6.50 per kg.
"Similarly rice sold at the nationwide held programme would be at RM22 for a 10kg pack. However the national average price is about RM24 and above for the same amount of rice," he said.
Following his announcement of the initiative, Hamzah said the ministry had worked closely with various parties to ensure that prices offered during the 'Jualan Sentuhan Rakyat' was affordable because it did not involve middlemen.
Hamzah said the CPI released by the Statistics Department was derived from the current national average expenditure of a consumer across 552 items with prices derived from 21,800 outlets and 168,000 quotations.
"The updated consumer basket contained 22 more items which are considered to be part of a consumer's expenditure on average. For instance, cheese has been included in the list for the first time.
"Apparently Malaysians like to eat their pizzas like nobody's business, I suppose. Other items newly included in the list were tooth crowning, braces, and fees for the usage of sports facilities such as badminton and futsal courts. This shows that Malaysians are keen to keep themselves fit as well," he said.
In announcing last month's CPI, which measures the country's headline inflation, Hamzah said it rose by 2.7% to 121.3% in January 2018 from 118.1 in the corresponding month of the preceding year, mainly due to increase in 10 major consumer groups.
Among the major groups which recorded increases were the indices for transport (+5.7%); food & non-alcoholic beverages (+3.8%); restaurants and hotels (+2.4%); decoration, hardware and household maintenance (+2.6%); health (+2.3%); housing, water, electricity, gas & other fuels (+2.2%); education (+1.2%); various goods and services (+0.9%);recreational and cultural services (+0.5%); alcohol and tobacco (+0.2%).
While the index for food & non-alcoholic beverages, which accounted for 29.5% in the CPI weights, increased by 3.8% in January 2018.