Poll Results

89% MALAYSIANS ARE CONCERNED WITH THE COST OF LIVING

Kuala Lumpur | 10 February 2023

UCSI Poll Research Centre recently conducted poll research on Malaysian aged 18 and above on the current cost of living.

First, the respondents were asked whether the government has done enough on the cost-of-living issue in Malaysia. According to the findings, 61% of Malaysians do not think the government is doing enough to address the rising cost of living.

The respondents were asked on how they are planning to spend their money this year. The results show that 33% of the respondents would lower their monthly expenses, 27% would contribute to retirement savings, another 27% would create emergency funds and 13% have not thought about it yet.

In terms of cost of living, 89% of the respondents are very concerned about the cost of living. This is in line with the increasing inflation rate in Malaysia. The Department of Statistics Malaysia has reported an 0.8% increase in inflation rate, from 2.5% in 2021 to 3.3% in 2022.

In the poll, the respondents were asked on the aspect they were most concerned with. The results show that the respondents are most concerned with groceries and food prices (60%) followed by utilities (45%) and fuel (43%). According to the Food and Agriculture Organization of United Nations (FAO), after the COVID-19 pandemic, the global food price index has increased from 95.1 in 2019 to 143.7 by the end of 2022. Groceries and food expenses are the respondents' top priority. This could be due to the uncontrolled increase in price of the common foods such as eggs and meat products, which have directly affected their daily expenditure.

On a question of how the increase in cost of living affects them, 41% of the respondents said that they have to spend less on entertainment, 40% have to lower their social activities and 37% have to work more than they used to.

Lastly, the respondents were asked on which cost of living aspects the government should address first. The top priority is food security, where 60% respondents want the government to control the ceiling price of common food. This is followed by healthcare (53%) and rental rates (52%).

 

 

 

 

 

 

About UCSI Poll Research Centre The UCSI Poll Research Centre (UCSI-PRC) is a public opinion research company owned by the UCSI Group. Its main objective is to utilise original and scientific research methodologies to investigate and analyse public opinions and attitudes.