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Mydin’s Boss Says Prices For Dry Goods & Clothing Expected to Increase by 10% in 2022

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Ft Mydin
Source: Tech Wire Asia & UTCC

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Although the Prime Minister had previously announced that the prices of some goods will stabilise this year, our favourite eateries such as mamaks and kopitiams have announced that their prices might be subject to an increase.

It appears that the price hike is to be expected as confirmed by MYDIN’s Managing Director, Datuk Wira Ameer Ali Mydin.

In an interview with Sinar Harian, Ameer Ali said that the price of items such as biscuits, sardines, and Milo in 2022 will increase between 8% to 10%.

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He also mentioned that clothing prices were expected to increase by 10% to 15% with new incoming stock, and that the prices for school bags and school shoes have already increased.

“We were told by many manufacturers that products will increase due to certain reasons (such as) the prices of raw materials and logistics costs having increased.”

However, he explained that the prices of wet items are expected to stabilise.

“For wet goods, they have their own supply chain (for instance if there is) flood. All this could push the prices up,” he added.

Ameer Ali pointed out that the increase cannot be blamed on the government as it involved international trade.

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To deal with things like this, he urged the public to make better choices when buying goods.

“We have a choice. Instead of buying things that are a little expensive, we look for cheap things. For example, we used to buy expensive brand A clothes, now we have to buy non – brand B brand.”

“We have to be wise and 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 explained.

 

Do you think that the increase is justified? Let us know in the comments.

 

Also read: WATCH: Mydin’s Director Talks About Corruption & Wants All Entrepreneurs To Voice Out About It

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Source: UTCC

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