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Malaysia to Introduce Moving Ceiling Price for Food Items

Customers in line for food at a market in Kuala Lumpur.

Customers in line for food at a market in Kuala Lumpur.

Photographer: Ian Teh/Bloomberg

Malaysia’s Prime Minister Ismail Sabri Yaakob said the government will introduce a moving ceiling price for consumer products, as part of its efforts to funnel subsidies to the needy and strengthen food security.

The ceiling price on food items will be revised based on the changes in the costs of various inputs in the supply chain, Ismail said in a statement Monday evening after chairing the meeting of the Economic Action Council.