PAKATAN Harapan (PH) communications director Fahmi Fadzil yesterday refuted local media reports on the expected increase in the price of consumer goods next month.

The communications and digital minister said the country’s inflation rate has shown a downward trend, adding that some economic indicators this year are showing better performance than last year.

“I saw reports from several media outlets today (yesterday) that in August prices of goods will increase by 20%. How did they predict that? Who did they consult? Are they ‘Nujum Pak Belalang’ (clairvoyant) who knows that come August the prices will go up?” he asked.

The PKR information chief said this at the launching ceremony of the party’s main operations room and election machinery for the Batu Tiga state constituency in Shah Alam last night.

Fahmi said unity government efforts have succeeded in lowering the inflation rate linked to the increase in the price of goods from 3.3% in April to 2.8% in May.

“Secondly, the first quarter of this year witnessed a robust economic growth of 5.6% and this rate is vigorous compared to the rates in China, Singapore and Indonesia,” he said.

In the first three months of this year, he said the country recorded approximately RM71 billion of foreign investments, higher than the RM44 billion recorded in the same period last year. Investments are expected to increase.

He urged PH and Barisan Nasional election machineries to work hard to convey to the people the government’s efforts and achievements in developing the national economy. – Bernama, July 10, 2023.