KUALA LUMPUR, July 4 – Prime Minister Datuk Seri Anwar Ibrahim has introduced a new cost-of-living indicator designed to enhance the Consumer Price Index (CPI) by integrating monthly income measurements. This initiative aims to better reflect current economic conditions and adhere to international guidelines from the International Labour Organisation (ILO).
During a Dewan Rakyat session, Anwar emphasized the necessity of updating economic policies to meet essential needs. He highlighted that Malaysia’s new indicator, covering 13 states, three federal territories, and 162 administrative districts, is in its final preparation stage and is expected to be announced in November this year. This adjustment comes in response to recommendations from the ILO and aims to align necessities with economic realities, as outlined in his response to Perikatan Nasional’s Hulu Terengganu MP Datuk Rosul Wahid.
