The price of children’s toys will began to rise!
Due to the devaluation of the ringgit, the cost of children’s toys began to rise!
Most of the children’s toys sold in our country are imported. As a result of the ringgit’s devaluation, the prices of toys sold in our country will also rise. As long as toys are imported from other countries, its price will rise.
Because toys aren’t standard items, retailers can modify the selling price to cover the expense. Merchants pointed out that they would not raise prices randomly to avoid unsold items, and that in the end, the merchants would be the ones to suffer.
Inflation caused by the ringgit’s devaluation impacts not just the selling price of toys, but also the price of any imported items, such as imported electrical equipment, building materials, food, and clothing.
Although the Department of Statistics Malaysia (DOSM) reported a 2.9 percent inflation rate in April, it is widely predicted that the actual inflation rate will be higher than 10% if government-made products are removed.
