Kuala lumpur: The government will continue to advance and refine the development of official statistics to support more accurate and effective policymaking, including through the production of more granular indicators, said Deputy Economy Minister Datuk Mohd Shahar Abdullah.

According to BERNAMA News Agency, the indicators will be disaggregated according to income, location, and demographic groups to ensure that the policies and interventions are more targeted and effective in addressing the cost-of-living challenges. Mohd Shahar emphasized the importance of considering the official inflation rate alongside other indicators to provide a more comprehensive view of the economic situation faced by households.

He addressed the Dewan Negara in response to Senator Azahar Hassan's inquiry about the gap between official inflation data and consumers' actual experiences, and the proposal to develop a cost-of-living index based on income groups and regions. Mohd Shahar highlighted that the government developed the Cost of Living Indicator in 2024, which measures the cost of living in greater detail based on data from the Household Income, Expenditure and Basic Amenities Survey, and the Consumer Price Index, for a more accurate depiction of household spending patterns.

To date, cost-of-living indicators, including the Basic Expenditure of Decent Living (PAKW) Index, Cost of Living and Average PAKW Index, are available down to the administrative district level. Additionally, the government employs various indicators, such as household income surveys, wage and salary statistics, and the Malaysian Well-being Index (MyWI), to provide a comprehensive picture of the people's well-being.