THE inflation rate is expected to remain moderate for the upcoming months, Economy Minister Rafizi Ramli stated based on economic data.The government is optimistic that the country will meet its inflation target of 2.8% to 3.3% in 2023. The government will also continue to focus on increasing local food production capacity at the community level and promoting the idea that cooked meal prices should be moderated. “The government is optimistic that the country will be able to meet the inflation target of between 2.8% and 3.3% in 2023. “We (the government) will continue to focus on scaling up food production capacity at the local community level and on the narrative that cooked meal prices should moderate,” Rafizi told the media after launching Invest Fair 2023. The country has seen inflation numbers come under control after 11 straight months of moderating inflation by focusing on a series of stabilisation measures. Rafizi added that it is a combination of efforts. Some are market-oriented and some are fundamental, but all together, we expect this downward trend to continue throughout the year. He also mentioned that the overnight policy rate (OPR) and monetary policy decisions are driven by long-term and evidence-based data provided to Bank Negara Malaysia (BNM). If there are any concerns regarding the social safety net or its immediate impact on the economy, discussions will be held with BNM.
The Invest Fair 2023, with the theme “Grow your money lahh!” will feature over 50 expert speakers covering various topics related to the market outlook, sector insights and investments. – June 3, 2023
Main photo credit: Bernama