KUALA LUMPUR (March 4): Finance Minister Lim Guan Eng said today Malaysia's 2018 inflation at 1% versus 2017's 3.8% is proof that the sales and service tax (SST) played a role in mitigating price increases if compared to the goods and services tax (GST).

In a statement today, Lim said 2018's inflation at 1% also proved the government's move to control fuel prices had lightened the people's burden.

"The decrease in the number of taxable goods and services is proven via the decrease in government income where annual SST collection is RM21 billion compared to the GST's annual collection at RM44 billion," Lim said in his speech at the launch of the Employees Provident Fund's (EPF) 'Belanjawanku' scheme in Bangi, Selangor today.

According to Lim's speech text, the EPF's 'Belanjawanku' scheme is an expenditure guide published by the EPF and University of Malaya's Social Wellbeing Research Centre.

He said the 'Belanjawanku' scheme will help Malaysians understand their spending patterns to increase financial literacy and personal finance management skills.