KUALA LUMPUR, Oct 24 — Despite the ringgit’s recent strengthening, Domestic Trade and Living Costs Minister Datuk Armizan Mohd Ali explained that fluctuating market prices are largely due to the dynamics of a free market system, as practised by Malaysia and many other nations.
In a written reply to Dewan Rakyat yesterday, he noted that price hikes and changes are influenced by various factors, including legislative cycles, supply and demand, commodity price shifts, operating costs, and trade balance.
“What’s important is that prices remain stable, and there are no sudden spikes,” Armizan said.
From July to September, Putrajaya monitored the prices of fresh, dry, packaged, hygiene, beverage, and baby products. During this period, 72 fresh items saw price increases, while 80 items experienced price drops. Cauliflower recorded the highest price increase per kilogram, whereas tomatoes saw the steepest price decline.
Prices for other monitored products remained stable, fluctuating within an average rate of less than 10 per cent.
“Consumers can track product price developments using the KPDN’s PriceCatcher app to plan their spending wisely,” he added.
The minister also highlighted government efforts in enforcement and advocacy, urging industry players to adhere to regulations and conduct their business ethically.
