Malaysian Consumer Anxiety Eases After US-Iran Ceasefire

A survey released on Monday indicates that Malaysian consumers are feeling less anxious about the cost of living after the June ceasefire between the United States and Iran helped ease concerns over global oil prices, though fuel subsidy reforms and rising utility bills have emerged as new financial pressure points. The Rakuten Insight online survey of 1,003 Malaysians, conducted on 13-14 July, found that the average level of concern about the cost of living fell to 7.46 on a scale of 10, down from 8.09 in April and below the 7.83 recorded in March, before tensions in the Strait of Hormuz escalated. The percentage of respondents expecting their household finances to worsen in the next three months also dropped sharply to 39.8 percent from 57.4 percent in April. Awareness of global oil price movements and geopolitical tensions also declined, reflecting easing worries following the ceasefire. However, concerns about inflation and the cost of living remained relatively strong, indicating that domestic financial pressures continue to weigh on households. The survey also found that spending behaviour is gradually returning to normal, with fewer consumers planning to cut discretionary spending and more willing to use savings or resume postponed purchases.