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PENANG recorded a lower inflation rate now compared to 2024 despite the concerns over rising living costs due to the conflict in the Middle East.
State executive councillor Goh Choon Aik (Bukit Tambun-PH) said that from a statistical perspective, Penang’s inflation rate for 2025 declined to 1.2% compared with 3% in 2024.
“For the period between January and March this year, the state’s inflation rate remained between 1.5% and 1.8%, indicating a more stable consumer price environment. This arises from continuous cooperation among various agencies in ensuring supply and price stability of goods,” Goh said.
Making his maiden winding-up speech in the state legislative sitting, Goh, who was just sworn in earlier this year, said that there are many initiatives undertaken to help the working-class cope with the rising living costs.
According to Goh, optimism prevails in the state, and this is supported by data from the Companies Commission of Malaysia (SSM), which showed that 23,986 new businesses and 4,027 companies were registered in Penang throughout 2025, reflecting strong confidence among the business community and the state’s steadily expanding economic activities.
On a separate matter, Goh, who is the Penang PKR vice-chairman, said the state will also continue to prioritise the development of high-value industries, particularly the semiconductor sector, integrated circuit (IC) design and Automation, Test and Equipment (ATE), to ensure Penang remains competitive within the global supply chain.
“Through PDC, the state government has allocated approximately 10 acres of industrial land worth RM40 million for the development of the Penang ATE Campus as a hub for industry collaboration, innovation and local talent development, which will be coordinated by InvestPenang," said Goh. - May 13, 2026.