With the devaluation of the ringgit, the price of children’s toys is about to rise!
Most of the children’s toys sold in China are imported, and with the devaluation of the Malaysian currency, the prices of toys sold in the country will also increase. As long as the toys are imported from foreign countries, the prices will increase.
Since toys are not uniform product, businesses can adjust their prices according to the cost. The merchants point out that they will not increase prices arbitrarily to avoid stagnant sales, and in the end, the merchants themselves will suffer.
Inflation caused by the devaluation of the Malaysian currency does not only affect the price of toys, but also imported goods, including imported electrical appliances, imported construction materials, imported food, imported clothes, etc.
Although the inflation rate for April is only 2.9% as announced by the Department of Statistics Malaysia, it is expected that the actual inflation rate should be more than 10% after deducting the uniform products set by the government.
