Singapore Tells, Malaysia Quells

Whilst politicians in Malaysia give assurances that things are getting better, given that elections are under way, their neighbour prepares its citizens for the painful truth. Really, Malaysians may complain about the pending petrol prices, hoping that it won't happen, we all know that is simply a thwarted illusion.

Petrol prices will increase by at least 20%, that if Malaysians are lucky. Otherwise..

Shafie Afdal will tell you that he has his hands on things, that he has made sure prices will not rise, except for : bread, by RM0.30 at least per loaf, chicken (where retailers are currently selling at ceiling prices), the popular ikan kembong.. all of which are the staple diet of the majority of Malaysians. Yet in the same breath, he warns of the pending increase of petrol.

Yes, strange, the principles of economy held dear by him..

Anyway. It has indeed been a while since the inflation rates are published. Maybe the Singapore ones can be used instead... then again, their's are too high, and Malaysian leaders are saying "malaysia's economy is undergoing a significant growth.."

Truth? You can't handle the truth! This site lies, Malaysia Today lies, Rocky lies, Kadir Jasin lies, Malaysiakini lies, heck.. nation of liars!

Dec 2, 2007
Food retail prices set to rise as supplies get more costly

THE cost of meals at hawker centres and restaurants look certain to rise after food supply costs, particularly for imports, rocketed for the second month in a row.

Many eateries have yet to pass on the higher charges to customers but economists believe they will not be able to hold out for much longer given the severity of the cost increases.

Official figures released last week show that Singapore's domestic supply price index (DSPI) rose 4.9 per cent in Oct from a year ago but the food component of the index increased 10.3 per cent. This followed a 10 per cent jump in Sept.

While its more famous cousin, the consumer price index (CPI), tracks price rises faced by end-consumers, the lesser-known DSPI tracks the prices of goods made locally or imported that are retained for use in the domestic economy by the government, business or households.

This means that while the increase in the price of a bowl of noodles is reflected in the CPI, increases in the prices of the ingredients that go into making it - such as flour, meat and condiments - are reflected in the DSPI.

The DSPI showed that prices of live animals were 24.5 per cent higher in Oct than a year ago, while those of dairy produce and eggs soared 41.6 per cent.

Vegetables and fruit prices rose 5 per cent.

Fish, however, cost 0.5 per cent less than a year ago.

DBS Bank economist Irvin Seah warned that the new data signals that faster rises in consumer prices for food are probably around the corner.

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