KUALA LUMPUR, Feb 11 — The UCSI Poll Research Centre has found that 89 per cent of Malaysians aged 18 and above are concerned with the cost of living.
Respondents’ concerns were in line with the increasing inflation rate in the country.
As reported by the Department of Statistics, there was an 0.8 per cent increase in the inflation rate, from 2.5 per cent in 2021 to 3.3 per cent in 2022.
Among questions posed to those polled was whether the government was doing enough to address cost-of-living issues.
“According to the findings, 61 per cent of Malaysians do not think the government is doing enough to address the rising cost of living.
“When asked how they would spend their money this year, 33 per cent of the respondents said they would lower their monthly expenses, 27 per cent said they would contribute to retirement savings, another 27 per cent said they would create emergency funds and 13 per cent have not thought about it yet,” the research centre said in a statement today.
Respondents were also asked to share what concerned them the most, and the research centre found that the top three concerns with groceries and food prices (60 per cent), followed by utilities (45 per cent) and fuel (43 per cent).
“Groceries and food expenses are the respondents’ top priority.
“This could be due to the uncontrolled increase in the price of common foods such as eggs and meat products, which have directly affected their daily expenditure,” the research centre said.
Respondents were also asked how the increase in the cost of living had affected them.
From this, the research centre found that 41 per cent of the respondents said that they had to cut back on entertainment expenditure, 40 per cent have reduced their social activities and 37 per cent found themselves working longer hours to make ends meet.
“Lastly, the respondents were asked on which cost of living aspects the government should address first.
“The top priority is food security, where 60 per cent respondents want the government to control the ceiling price of common food.
“This is followed by healthcare (53 per cent) and rental rates (52 per cent),” the research centre said.
The survey comprised a total of 1,031 respondents, made up of 59 per cent employed, 12 per cent unemployed, 23 per cent students and 6 per cent retirees.
