Economists, agreeing Covid-19’s effects show hints of stagflation, explain how Malaysia can avoid it

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The unemployment rate is expected to climb for January and this month after the country went into another partial lockdown. — Picture by Choo Choy MayUnemployment rose to 4 per cent in December, 2020, after declining in the first few months of the third quarter when most economic sectors were allowed to resume. The rate is expected to climb for January and this month after the country went into another partial lockdown. Some economists estimate the number of out-of-job workers would be higher if accounting for the informal sectors.As more lost jobs, food prices rose for six consecutive months last year even as the consumer price index stayed low throughout 2020 owing to cheap oil and weak consumer spending on non-essential goods and services.Food and non-alcoholic beverages, accounting for close to a third of CPI weight, rose 1.4 per cent year-on-year in December last year. Th…