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A UCSI Poll Research Centre survey has found that an overwhelming 98% of respondents do not think the government is doing enough to tackle the rising cost of living.
In comparisan, only 61% of respondents in a similar survey last year said the government was not addressing the problem.
In this year's survey, 99% of respondents expressed concern about the cost of living, with 96% identifying groceries and food prices as their major worry, followed by healthcare costs (83%) and utilities (31%).
The UCSI survey interviewed 921 Malaysians, 80% of whom were workers, 18% students, and 1% each unemployed people and retirees.
When asked how the respondents planned to spend their money this year, 51% said they would lower their monthly expenses.
"Twenty-eight per cent said they will create emergency funds, 15% will contribute to retirement savings, and 6% have not thought about it yet," UCSI said in a statement.
On the impact of the high cost of living, 62% said it affects their wellbeing while 57% said they have to work more.
Fifty-one per cent said they have less money to spend on entertainment.
The top priority for respondents was food security, with 97% wanting the government to control the prices of staple foods. Seventy-four per cent were worried about healthcare costs.
Malaysians have been complaining about the increasing cost of living post-pandemic.
In the past month, the government’s decision to cut diesel subsidies has raised concern over price hikes.
The government next plans to remove petrol subsidies. – July 18, 2024.
