MALAYSIANS will see food and household items increase in price again next month as the war in Ukraine continues to push global prices up, retailers say.

Prices of canned food have gone up by 10% to 20% since the start of the year, so have the prices of anchovies, MSG and soybeans.

Daily necessities such as toilet paper, plastic bags and other items are also expected to go up next month.

Klang Coast Provision and Supply Goods Retailers Association president,  Tan Teck Hong said prices of goods across the board are expected to go up next month.

Prices of canned food, which usually goes up by 10 to 20 sen, is expected to shoot up to 50 sen.

“This includes canned sardines which are 80 sen more expensive while soybeans and tomato sauce have gone up by 50 sen depending on brand,” Tan told The Malaysian Insight.

The prices of canned food are being pushed higher due to the Covid-19 pandemic, inflated transportation and shipping costs and supply shortages globally.

“When the new RM1, 500 minimum wage takes effect next month, prices of goods may go up even more.”

Prices of soy sauce, condiments and flour have also gone up drastically.

“Manufacturers have informed us that toilet paper and paper bags will go up by 8 to 10%.”

While prices continue to rise sharply, consumers’ incomes have not been able to keep up, Tan said.

“Consumers will start changing their consumption pattern. Instead of stocking up, they will start buying goods only when they start to run out.”

Federation of Sundry Goods Merchants Associations of Malaysia president Hong Chee Meng said the high prices of goods will put pressure on grocers and consumers.

“The war in Ukraine has led to a shortage in the global supply of wheat, meaning the prices of flour will increase, but we still don’t know by how much.”

Prices of canned food such as sardines, soybeans and tomato sauce have gone up the most at 10 to 20%, he said.

Perak Sundry Shops Guild president Chuah Seong Kok added that canned food has been consistently increasing in price since last year.

“The main reason for this is the pandemic, followed by the lockdowns which affected production. There is the problem of the global supply chain and supply shortages to contend with.

“Though many countries are now in economic recovery, the Ukraine war threw a wrench into everything as it is now affecting the prices of raw materials and cost of transportation.”

Chuah said consumers can expect the wave of price hikes to continue for the foreseeable future.

“Consumers may blame us for profiteering when they hear prices increasing again but will eventually get used to it.

“Small grocers are barely making any profit compared to before because the cost price is so high and we cannot pass it all to the consumer as they will stop buying.”

Grocers are not only battling price hikes, but supply shortages and disgruntled customers, he added. – April 14, 2022.