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The cost of living is far outpacing income growth in Malaysia, especially among lower income groups and the working poor, who are described as people who are employed but don’t earn enough money to cover basic living expenses, thus leaving them in poverty.
Average household income rose by 3.8% from 2022 to 2024, but this still isn’t enough
Referencing data from the Household Income and Basic Amenities Survey 2024, Economy Minister Akmal Nasir Nasrullah shared that average household income rose from RM8,479 in 2022 to RM9,155 in 2024.
While that growth isn’t something to scoff at, it still doesn’t help lower income groups and the working poor catch up with rising living costs.
