PUTRAJAYA: Consumers need to play a role in making supply and demand for goods more elastic, including by not buying products that are sold at high prices.
Economy Minister Rafizi Ramli said if consumers do not buy or use products offered at unreasonable prices, it will push traders and suppliers not to arbitrarily increase the price of goods.
He said even though the price of goods continues to rise, some consumers were willing to pay the price set by suppliers.
He said one category of expenditure that affects inflation the most is the price of food and non-alcoholic beverages, which is the largest expenditure for households.
"Although the prices of food and non-alcoholic beverages continue to rise, people continue to buy and pay the higher prices charged by merchants.
"This to some extent contributes to the increase in the price of food and non-alcoholic beverages.
"Normally, if the price of chicken is too expensive, we don't buy it," he said at a press conference on the publication of the November 2022 Consumer Price Index here this afternoon.