Getting more expensive: Prices of essentials, such as chicken, have risen significantly post-pandemic.
PETALING JAYA: The escalating cost of living has been a major concern for many in 2023 as it was a continuation from the previous year when the country saw many economic sectors reopen after the pandemic.
With predictions putting this year as a tough year of economic recovery amid ongoing geopolitical challenges, global economic slowdown and inflation, many Malaysians were hit hard as they struggled to regain their footing.
Prices of food and many essential items have risen significantly post-pandemic.
For example, many friends grumbled that a plate of wantan mee in Melaka that used to be RM5.50 is now RM7.
A three-dish mixed rice that used to be RM7 in Klang is now RM9, while a RM1.50 roti canai in Shah Alam is now RM2.50.
“Imagine one has to spend a few ringgit more for each meal, how much will it add up to in a month? How will low-income earners cope?” asked one of them.
For groceries, they said a six-box pack of fresh milk that used to be RM6.99 is now RM8.99, a 10kg pack of imported jasmine rice has gone up from RM40 to over RM60 and a 2.1kg pack of laundry powder has increased from RM10.50 to RM15.80.
When doing monthly grocery shopping with my mum, she now goes for the 3kg bottle of cooking oil instead of 5kg, saying “it’s less heavy to lift and pour”.
She now considers deep-frying at home a waste of cooking oil, and has stopped making her signature fried chicken which my teenage niece and nephew love.
A 3kg bottle of cooking oil that was RM13.90 is now RM19.60, while the 5kg bottle is now RM30.90, up from RM20.95.
No wonder my mum opted for the smaller bottle as it now costs almost the same as the 5kg bottle she used to buy previously.
She has also stopped cooking my brother’s favourite pork knuckle in ginger vinegar stew due to the exorbitant cost of a single pork foreleg, which is a whopping RM75 now, up from RM25 pre-pandemic.
Just the other day, she advised me against buying a discounted twin-pack nutritional milk powder for her, to help me save money.
Of course I did not listen to her and bought it online later.
Our staple sources of protein – chicken and eggs – have also been subject to inflationary pressures.
The price of chicken has risen from RM8.50 to around RM10 per kg now with the price-float mechanism, while a tray of 30 grade C eggs, which was around RM11.50, is now RM12.30 – not much of a difference thanks to the egg subsidy mechanism.
We should note that the prices of chicken and eggs stabilised only after much hoo-ha on the ground which prompted the government to come out with various short-term solutions.
This included importing chicken and eggs to meet demand, floating prices and continuing to subsidise grade A, B and C eggs, although subsidies for chicken were discontinued from Nov 1.
There were also times when prices and supply of vegetables fluctuated throughout the year due to weather patterns.
Earlier this month, it was revealed that Malaysians have voted the Chinese character ‘gui’, which means expensive, as the word of the year, illustrating that cost of living remains a major concern as the year ends.
Ongoing geopolitical tensions, rising inflation, weakening demand, depreciating currencies and increasing borrowing costs will only curtail spending, leading to higher prices.
Although a lower inflation of 1.5% was recorded year-on-year in November – the slowest pace since February 2021 amid a lower price increase recorded for food, health, restaurants and hotels – it remains to be seen if the prices of essential goods will stabilise, particularly with the introduction of several new taxes next year.
It is the hope of every Malaysian that the government’s future policies and plans will be responsive to current challenges facing the people, while also addressing critical structural issues related to wages and productivity to increase people’s income.
