PETALING JAYA: The Penang Hindu Association (PHA) has urged the Domestic Trade and Cost of Living Ministry and the Prime Minister’s Department to act against importers, manufacturers, wholesalers and retailers who have increased the prices of essential goods despite the favourable ringgit to US dollar exchange rate.
Its president Datuk P. Murugiah said PHA has received numerous complaints from the Hindu community over the price increase in light of Deepavali on Oct 31.
“Based on the complaints and feedback, consumers have cited the hefty prices as their primary consideration when purchasing essential items compared with other factors, such as quality and uniqueness of products.
“We fear that if the matter remains unchecked, it would impact consumer spending and dampen the festive mood by forcing families to scale back on their preparations and pare down on essential cooking items and ingredients that are important for Deepavali.”
He said PHA carried out a survey on several retail shops and confirmed that there has been a rise in the prices of essential goods and spices compared with last year.
“The price of cardamom has skyrocketed from RM40 per kg in 2023 to RM140 per kg this year, which is a 250% increase in just over a year. Of the 19 items we surveyed, seven had a price increase of 100% or more while the remaining showed an increase of between 22% and 75%.”
Murugiah said the price increases have come as a surprise, considering the ringgit has strengthened against the US dollar and this has had little to no impact on the prices of imported items commonly purchased for Deepavali.
He said with Deepavali hardly two weeks away, the festive spirit of the celebration has been dampened by the uncertainty looming over possible inflation and the rising cost of living.
He also said the potential for a memorable celebration has turned the season of joy into a source of stress, leading to a financial hangover.
He added that random checks need to be carried out by relevant authorities to ensure retailers and wholesalers do not arbitrarily increase the prices of essential goods.
In light of the current high prices, PHA has called on the Hindu community to practise prudence and spend their money wisely.
“Many families may resort to borrowing money to please their children, who would be looking forward to a joyous annual celebration. We wish to caution Hindu families to avoid borrowing, especially from loan sharks, as it could land them in debt and force them into a trap that is hard to escape.
“We also advise families to cut down on the number of traditional dishes, cakes and sweets that are usually prepared or purchased
for Deepavali.”
He said excessively prepared items could end up being unconsumed and left to waste, so being astute in their practices could help save expenditure.
He advised celebrants to find ways to save costs on everyday purchases by changing their spending habits moderately.
“The practice of seasonal austerity may be difficult at first but if there is persistent commitment, it would help individuals practise a thrifty lifestyle.”
