According to the Federation of Malaysian Home Appliances Merchants (FEMA), the price of all appliances in the country will be increased by 5% to 10% from August 15, 2022.
The price hike was supposed to start on August 1, but some manufacturers still have stock, so they will continue to sell their stock at the old prices. As for the new stock, the increase will take effect from 15 August 2022.
Many of our major appliances are imported from abroad, while some are assembled locally. Locally assembled appliances have also been affected by the increase in the price of raw materials and have been forced to increase their prices.
Inflation in the US is so high that the Federal Reserve has had to raise interest rates to keep it down. The Fed’s interest rate hike has also led to a stronger US dollar, which in turn has led to a depreciation in the value of the Malaysian Ringgit.
