Salahuddin told a press conference here that industry players gave this guarantee to the ministry during an engagement session last week.

“Even if there is (any price hike), the government will hold negotiations (with the relevant industry players) so that the (new) prices would be reviewed,” he said.

On Sunday, Utusan Malaysia quoted the KL & Selangor Indian Chamber of Commerce and Industry (KLSICCI) as saying the prices of various goods could go up by 20% by October due to a rise in operating costs and imported inflation.

KLSICCI president Nivas Ragavan had said the business group had found a 20% hike in operating and production costs among its members since January.

Meanwhile, Salahuddin said surveys by his ministry found that the price of subsidised goods such as whole chickens and chicken eggs had not risen and that there was no shortage of these products in the market.

He also said there was a sufficient supply of unsubsidised goods such as sugar and bottled cooking oil in the market.

Yesterday, Perikatan Nasional chairman Muhyiddin Yassin claimed he had to resort to rearing chickens in view of the shortage of eggs locally.

He also claimed that traders in Taman Melawati, Kuala Lumpur, had complained to him about a surge in prices of various goods, when he paid them a visit recently.