0.1pct rise in food prices a fact or fantasy?
YOURSAY Can Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek guarantee Malaysians that all food prices will only rise by 0.1 percent?'
Myrights: Let's say it now costs RM10 to buy a pack of nasi campur with all the good stuff in it. By Domestic Trade, Cooperatives and Consumerism Minister Hasan Malek's logic, the price increase is only one sen.
Really? No one would believe that. I am sure that same RM10 nasi campur will increase to RM11 very soon.
This is truly the quality of economists we have in Malaysia. I really don't understand how he would come up with 0.1 percent increase when the price of fuel has increased by 11 percent.
Doc: I beg to differ, Hasan Malek. I think the fuel pump prices will only push food prices up by 0.00000005 percent. It's better that you check your numbers again.
Onyourtoes: Minister, let me relate to you some rudimentary observations of past price increases of essential commodities like fuel, sugar, flour and cement.
When the price of sugar went up by 20 sen per kilogramme, the price of one glass of teh tarik or a bowl of ice kachang went up by 20 sen. When a cylinder of cooking gas went up by RM2, a bowl of mee at the hawker stall went up by 50 sen.
How many percent increase is that? How much of a "cost pass through" that the traders were doing?
Of course, I don't expect you to know because you just know how to read what was given you by your nincompoop government servants.
You explain to me what is 0.1 percent increase - if something costs RM100, a 0.1 percent increase is equal to how much - RM1 or 10 sen?
I bet you do not know the answer. I bet the government servant who gave you the figures also does not know the answer.
Mushiro: If the price of roti canai goes up by 10 sen, tea by 10 sen, one piece of fish by 10 sen, vegetables by 10 sen, rice by 10 sen, drinks by 10 sen - this means my RM5 lunch goes to RM5.50.
That is a 10 percent hike in lunch and also everything else. Understand?
Anonymous_3e86: What studies? Care to publish the studies that the ministry did for all to see?
We too want to find out how this 0.1 percent figure is derived. Can he guarantee all Malaysians that all food prices will only rise by 0.1 percent?
Bersih 4.0 Malaysian: Wow, what a "brilliant" minister we have. Less than one percent hike in food prices?
How about other costs like bus fare for the schoolkids? How about the chain effects downstream and not only in transportation?
Quigonbond: That's marvelous. I'll be sure to seek reimbursement from the ministry if the hike in food prices is more than 0.1 percent.
Black Mamba: Where does this minister come from?
Please tell me what is our current consumers price index (CPI). Then tell me if all this while, the increase in prices of essential food items has been only 0.1 percent.
Every right-thinking economist knows that the government has been suppressing the inflation rate and tinkering with the GDP percentage to look good.
But the actual costs of products are real on the ground, and not some imagined figure plucked from the air.
Wira: Hasan Malek, when the price of sugar went up by 20 sen per kilo, my glass of kopi-O ice kosong went up from RM1 to RM1.20.
When prices of basic commodities are allowed to increase, your government creates an expectation from sellers that it is okay to increase the prices of their products which have no bearing on the commodities that were allowed that increase. Understand?
Kunio: Cutting the subsidy is the right move, let's put aside politics. We cannot live in an artificial market. Likewise, car prices must not be artificially controlled as Proton's is.
Anonymous #98268170: Remove all import duties on cars and we wouldn't mind the fuel hike.
Fourtan: Oh, I forgot. On top of this, the four percent GST (Goods and Services Tax) is coming.
YUNoAnon: Is the government in control of all the prices? Do you dictate which businesses can price their goods?
If not, then how do you know it will only increase by 0.1%? And do you think only food is affected? Fitch Ratings is right.
Hopeful123: Right now prices are already sky high. See the price of vegetables. Locally grown vegetables cost more than imported ones. What is happening?
Now with fuel hike, there is no need to say any further. Malaysian produced Dutch Lady milk in the one litre pack is cheaper in Singapore. Where did our ministers go to school?
TehTarik: I had lunch in a restaurant in Bangsar today and the price of tea had gone up by 10 sen, and roti canai by 20 sen. According to the owner, this is due to the fuel price hike.
Satay Satay: Hear the people's cries. We cannot afford the spiraling increase in prices. Reduce petrol price immediately. This is what the people want.
Shame on those who get free petrol. They get a 100 percent subsidy by the people who are eking out a living the hard way.
CiViC: Mr Minister, with all due respect, I would love to believe your statement, and I would love to see your ministry enforcing it.
To start off, please list down all food prices before the increase for benchmarking purposes, and then we'll decide later if you are a fool or hero.
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