KUALA LUMPUR, June 29 — The Cabinet has approved the formation of a special task force to combat inflation and rising cost of living in Malaysia, Prime Minister Datuk Seri Ismail Sabri Yaakob announced today.

The panel will be in charge of collating data from all ministries, relevant agencies, and the public in order to devise strategies and coordinate efforts to counteract inflation and its effect on the price of goods.

Ismail Sabri said the task force will meet twice a week, on Mondays and Thursdays, with a press conference to be held after each.

“This task force will be chaired by Communications and Multimedia Minister Tan Sri Annuar Musa,” Ismail Sabri said in a statement today.

Others on the task force include Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz, Agriculture and Food Industry Minister Datuk Seri Ronald Kiandee, Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi, Minister in Prime Ministers Department (Economy) Datuk Seri Mustapa Mohamed, and Chief Secretary to the Government Tan Sri Mohd Zuki Ali.

A special officer from Nanta’s ministry will also be seconded to the task force to act as a liaison.

Earlier, Nanta’s ministry announced new ceiling prices for chicken and egg, to replace the previous set that was supposed to be abolished on July 1.

Malaysia is currently facing a cost of living crisis that in which the prices of food staples and essentials have risen sharply and steadily since the start of the year.