Prices of dry goods, clothing expected to go up by 10% this year, says Mydin boss


PETALING JAYA: The costs of dry items and clothing is expected to rise by up to 10% due to increased prices confronted by producers and matched with worldwide commerce points, says Datuk Ameer Ali Mydin.

The Mydin Mohamed Holdings Bhd (Mydin) managing director expected the value of dry items — reminiscent of biscuits, sardines and standard drink Milo — to enhance between eight to 10% this yr.

“We had been informed by many producers that merchandise will enhance due to sure causes (reminiscent of) the costs of uncooked supplies and logistics prices having elevated,” he was quoted as saying in Sinar Harian on Sunday (Jan 16).

He stated clothing costs had been expected to enhance by 10% to 15% with new incoming inventory, including that the costs for college baggage and college sneakers have already elevated.

However, costs of moist gadgets are expected to stabilise.

“For moist items, they’ve their very own provide chain (as an illustration if there may be) flood.

“All this may push the costs up,” he stated.

He identified that the rise can’t be blamed on the federal government because it concerned worldwide commerce.

“We have to be wise, smart to find products that we can afford. Because you have no choice. The product (price) will increase, your salary does not increase. Even if your salary increases, it is 3% to 5%, but the product (price) increases by 10%,” he stated.

Sinar Harian additionally quoted client monetary skilled Prof Mohamad Fazli Sabri as saying that rising items prices of round 10% to 30% would have an effect on family spending, with a household that often spends round RM2,000 a month expected to now spend an extra RM600 month-to-month — or an extra 30% extra.

Among different issues, Fazli advised that households change their life and minimize down on non-essential spending to deal with the value hikes, and advised exploring the gig economic system or digital economic system as a means to complement earnings when purse strings stay tight even after prudent spending.

He was additionally reported as expressing hope that the federal government could be firmer in implementing monitoring in direction of worth hikes and to assist the general public who’re affected by the rise in residing prices.

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