KUALA LUMPUR: The government will continue to strengthen efforts to stabilise the prices of essential goods to address concerns about rising living costs following the implementation of the RM2,000 minimum wage in June 2027.
Economy Minister Akmal Nasrullah Mohd Nasir said the efforts included tightening enforcement of the Price Control and Anti-Profiteering Act, as well as implementing the Jualan Rahmah MADANI and Jualan Agro MADANI programmes.
“The country’s inflation rate remains under control at 1.7 per cent in the first quarter of 2026 (1Q 2026) and around 1.9 per cent in 2Q.
READ MORE: BBC proposes 6 and 12 month impact assessment on minimum wage hike
“We also noted that food inflation was around 1.4 per cent in May and June, and between 1.8 and 1.9 per cent in July and August,” he said during today’s question-and-answer session in the Dewan Rakyat.
He was responding to Aminolhuda Hassan (PH-Sri Gading), who asked about government measures to ensure that the implementation of the RM2,000 minimum wage would not result in job cuts, higher prices of goods or increased operating costs for small businesses.
Akmal said the increase in the minimum wage from RM1,700 to RM2,000 was expected to benefit more than four million workers.
“To ease the burden on micro, small and medium enterprises (MSMEs), businesses with annual sales below RM50 million will be exempted to enable them to adjust their business models and restructure their financial positions.
“This measure is important to ensure that employers can continue operating without taking drastic action, including laying off workers,” he said.
Those affected by company restructuring following the minimum wage adjustment and covered under the Employment Insurance System (EIS) are eligible to claim benefits, including a job-search allowance for up to six months.