Malaysians spend 31.2 pct of income on food, 23 pct on petrol

Malaysians spend 31.2 pct of income on food, 23 pct on petrol

By AZURA ABAS AND OOI TEE CHING - 1 August 2016

 PUTRAJAYA: Second Finance Minister Datuk Johari Abdul Ghani today zeroed in on two key aspects that need to be examined closely to address the rising cost of living. He said the two components involve prices of essential goods and services as well as income. "Being people-centric, the government is committed to addressing this issue in a holistic manner to enhance the wellbeing of the rakyat. "By and large, Malaysians spend 31.2 per cent of their disposable income on food and food away from home; 23.9 per cent on petrol, housing and utilities; and 14.6 per cent on transport," said Johari in his opening remark at the first focus group meeting on Cost of Living here. With the change in lifestyle, he said, the basket of necessary goods nowadays included cars, mobile phones, computers and internet access. "With the increase in the general price level, it is argued that the B40s and M40s are finding it difficult to sustain their standard of living.