Photo by Sam Fong/The Edge
KUALA LUMPUR (May 25): The purchasing power of Malaysia’s household consumption fell by 16.7% over a decade to 83.3% in 2020, according to Malaysia’s chief statistician Datuk Seri Mohd Uzir Mahidin.
Within 12 main groups, two groups of goods and services recorded purchasing power exceeding 100%, namely communication (102.6%) and clothing and footwear (107%).
“This illustrates that households were able to enjoy communication services, clothing and footwear at cheaper prices as compared to 10 years ago,” he said.
Meanwhile, alcoholic beverages and tobacco saw the greatest decline in purchasing power, by 40.6%. This is followed by food and beverages (25.8%) and restaurants and hotels (24.5%).
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