“Is the economy that bad when inflation has fallen?”

NETIZENS posed a good question and several responded that the economy is doing better based on Malaysia’s annual inflation rate, which has dropped to 3.3%, the lowest in 11 months. 

User @Thiban_ben wrote:

“Some said Economy Minister Rafizi Ramli is so quiet, not sure what he is doing. ‘Walaun’ claimed Rafizi’s “formula” is not working.

“The data indicates Malaysia’s economy is getting bigger and better! Creating a robust economy is not magic. It requires a passionate and hard-working guy as Minister. RR is the right guy!”

While we can say it is the personal opinion of the twitter user, the Department of Statistics Malaysia (DOSM) on Friday (May 26) said the growth in the transport segment slowed to 2.3% in April compared to the previous month.

“While the consumer price index (CPI) rose by 3.5% for the first four months of 2023, the growth in the transport segment slowed to 2.3% in April compared to the previous month.”

However, this decrease was offset by other sectors, such as food and beverages, which experienced significant growth of 6.3%.

The restaurant and hotel segments saw growth of 6.6%. Despite the easing of transport growth, these sectors contributed to the overall inflation rate.

Nevertheless, the slowing of inflationary pressure is not reaching the population. At least not yet.

Some folks complained that they could read the price labels in stores, which showed a constant rise in prices.

The recent increase in the overnight policy rate, or interest rate hike, has also caused tremors over the internet.

Many people are saying the answers given to them by Prime Minister Datuk Seri Anwar Ibrahim and others are not satisfying.

However, whatever benefits are coming with the lower inflation or interest rate hike are not showing in their depleting savings.

User @wfr3104 added:

However, @pejalaf retorted:

Meanwhile, user@jedimaster909, who seemed to know what he or she was talking about, the original poster should have said: — May 26, 2023

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