Recent data from the Department of Statistics Malaysia (DOSM) released on October 2024 shows that the consumer price index (CPI) recorded a slight decrease, with September’s monthly inflation rate easing to 1.8% down from 2.0% in July. This cooling inflation rate might seem like a light at the end of a long tunnel of rising costs for the average Malaysian, especially considering the high inflation period following the COVID-19 pandemic. However, a lower inflation rate often leads to misunderstandings about what it actually means for prices and purchasing power.