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Monday, October 7, 2013

Price Increase

Friends,

To recap, Prime Minister Datuk Seri Najib announced fuel hike of 20 sen (RM 0.20) on Sept. 2nd, 2013.

As we all know, an increase in fuel price will increase almost every single cost and price in Malaysia.

The data below was checked and compiled by a research house (M&A Securities) which shows that there is an increase of 20 sen in almost all food prices.

The increase, when read in percentage, is a rude jolt for my mind to fathom. Imagine a 20% increase. Wow, that is a lot to consider; even though it is an increase from RM 1.00 to RM 1.20.

I can definitely understand the fluctuation of oil price, but the government should be a bit mindful too of the resultant domino effect when raising the oil price.

Source: Focus Malaysia, Issue 44, Oct. 5th-11th. Page 16.

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