KUALA LUMPUR, Jan 24 — Prime Minister Datuk Seri Ismail Sabri Yaakob will chair the meeting of the National Action Council on Cost of Living (NACCOL) soon to get a clearer picture of the price hike issues from the relevant ministries.

In his posting on Facebook, Ismail Sabri said the government was concerned about the recent hikes in the price of consumer goods.

"The government is committed to ensuring that price hikes of consumer goods to be dealt with quickly for the benefit and wellbeing of the Malaysian families,” he said.

A Malay daily today reported that the Malay Chamber of Commerce (DPMM) had forecasted unusual price hikes of all consumer goods after the Chinese New Year celebrations next month.

In the report, DPMM president Abd Halim Husin was quoted as saying that the price hikes were driven by a more than double increase in the cost of transport after the unusual floods in the Klang Valley last December. — Bernama