MALAYSIA registered a deflation in 2020, the first time it saw a decline in general prices in 51 years.
Deflation is a general decline in prices for goods and services, which should give more purchasing power to consumers.
However, Malaysians continue to feel the pinch of a higher cost of living. This is because, last year, food prices rose 1.4% compared to a 1.2% year-on-year drop in the consumer price index (CPI), which is used to measure inflation.
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