Illogical to cut living costs but not raise wages, says economist

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Economist Geoffrey Williams says the prices of goods and services have not risen too steeply and some have actually gone down.PETALING JAYA: The Malaysian Employers Federation’s call for Putrajaya to control the rising cost of living rather than raise the wages of workers has been met with criticism by an economist.This comes after MEF president Syed Hussain Syed Husman said businesses were in no position to absorb increases in wage costs, calling for efforts to instead control the rising costs of products and services.Geoffrey Williams of the Malaysia University of Science and Technology said this was “mean-spirited” and made “no economic sense” when prices of goods and services were not rising very rapidly.With the consumer price index (CPI) staying at 2.2% in September, he said, there was no price pressure in Malaysia while prices of goods like clothing and footwear had act…