ALARMING! Our annual inflation rate notched its highest level in more than 27 years in June.
At this very moment, our leaders are busy attending to politics – who should take on who in Umno elections in December; who to sue for libel, sodomy, grafts, etc. So much so, our economy is being left to only a few experts.
It stemmed out from the 41 per cent increase in fuel prices recently and the hike in consumer goods tags.
This new figure does apply a lot of pressure on Bank Negara. Of course, the market and the public are already contemplating its respond this week on the first interest rate rise in two years.
The jump in inflation to 7.7 per cent will give another headache for the government, now facing mounting pressure over the rise in cost of living.
What to do now? Together, we shoulder the burden, right? Like it or not, we might become another Brazil should no effort is taken to overcome our heating economy.