Government will implement a minimum wage of RM1,500 from May 1, which is widely expected to drive up the prices of domestic goods. While the government has yet to announce details of the implementation of the minimum wage, according to previous announcements, the RM1,500 minimum wage will only apply to large businesses and companies with links to the government.
It has been more than 40 days since the war between Russia and Ukraine began in late February, and the spike in raw materials and supply chain disruptions caused by the war have been festering internationally. International crude oil prices have also remained high, which has had a serious impact on the transport sector, particularly air and sea freight. The increase in transport costs is also beginning to be reflected in prices.
The war between Russia and Ukraine (a major wheat producer) has also led to a shortage of wheat. Flour has also gone up several times this year, from MYR 21 to MYR 24 per box and now to MYR 27.50. The rise in the price of flour has also raised the price of pasta in the country, and the price of cooked food in coffee shops is also rising.
Not only that, canned food has also been raised by 30 to 40 sen, affecting canned products such as luncheon meat, sardines, dried pork and green beans.
