In the face of the 21st century, society is more aware of financial issues and one of them is the increase in the price of goods. The increase in almost all essential goods including non-control causes consumers who are already affected by the high cost of living at this time to be increasingly burdened. Every day we can see in the media social media and the press, people complain about the increase in the price of goods due to the high demand for raw and wet goods.
This causes users to think long and hard before making a purchase. This year it is predicted that the cost of goods and food will increase by more than 10 percent due to the expected increase in the inflation rate which will reach six to seven percent. The inflation rate can occur as a result of increased production costs, high demand and lack of supply of goods. The increase in the price of goods that is happening at this moment is not only happening in Malaysia, but it is also happening all over the world. The authorities need to conduct a study to find a list of essential items that are important for local residents in their daily lives. As a result, people can buy necessities to continue their lives even though the country’s economy is in turmoil as a result of the turmoil of powerful countries.
Among the factors for the increase in the price of goods are:
- The situation of price changes that have started to be faced in the country is a follow-up to the increase in the price of food raw materials globally (world), this effect is also felt in our country Malaysia, which can be seen to have aggressive price movements (showing an increase) for goods in the group especially food.
- Currency rate/value of the country with the exporting country
- Increased production and logistics costs
- Weather changes and disasters in the country and abroad producing countries such as China that affect the price of imported vegetables
- Lack of manpower including foreign labor which causes disruption in the production of farm and agricultural products
At the same time, law enforcement is important in curbing the increase in the price of goods. The authorities need to monitor more often or provide an easy medium for the community to report any price increase that occurs in their area. This issue can definitely be resolved well if all parties work together like waves and cliffs to play their respective roles. May the authorities be consistent in fighting for issues that are close to the reality of society’s life today so that common prosperity can be achieved equitably.