Deputy minister: Prices of 568 consumer goods decreased last year

PARLIAMENT | A total of 568 goods or 63.2 per cent of 900 consumer goods saw a price reduction between May-December 2018, says the Domestic Trade and Consumer Affairs Ministry.

Its deputy minister Chong Chieng Jen said 317 goods (35.3 per cent) recorded price increases while the price of eight other goods (0.9 per cent) remained unchanged.

He said the 900 goods were selected based on findings of the 'Malaysia’s Household Expenditure Survey 2016' conducted by the Department of Statistics Malaysia.

“An analysis on price monitoring activities carried out on 2,256 business premises was aimed at assessing the effects of the Sales and Services Tax (SST) on the price of goods,” he said during the question and answer session in Parliament today.

Meanwhile, he said 125 investigation papers were opened under Section 21(5) of the Price Control and Anti-Profiteering Act 2011 for various offences by traders who refused or failed to provide feedback to notices from the assistant price controller while 327 investigation papers were opened under Section 14(1) due to profiteering.

“The ministry is also in the process of adding more items to the list of controlled goods to ease the cost of living for the people,” Chong added.

- Bernama