Inflation here to stay if consumers opt for more expensive goods, says Economy Minister | TheStarTV.com

Inflation here to stay if consumers opt for more expensive goods, says Economy Minister

Published on 23 Dec 2022 10:43:05 PM

Malaysian consumers have a role to play in the fight against inflation starting by choosing cheaper options of goods they purchase, says Economy Minister Rafizi Ramli.

He said Malaysians are partly responsible for the rise in food prices for example with analysis of inflation data showing that a major factor behind steeper prices was the "inelasticity of demand", a situation where consumers continue buying the same amount of goods even as prices soar.

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Keywords
News, rafizi ramli, economy minister, demand, inflation, high price, consumer, cost of living, inelasticity of demand

Malaysian consumers have a role to play in the fight against inflation starting by choosing cheaper options of goods they purchase, says Economy Minister Rafizi Ramli.

He said Malaysians are partly responsible for the rise in food prices for example with analysis of inflation data showing that a major factor behind steeper prices was the "inelasticity of demand", a situation where consumers continue buying the same amount of goods even as prices soar.

Read more at https://bit.ly/3GggfV0

WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline

Keywords:
News, rafizi ramli, economy minister, demand, inflation, high price, consumer, cost of living, inelasticity of demand

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