Economic Minister Rafizi Ramli recently explained that even though the Malaysian ringgit is getting stronger, it does not necessarily mean that food prices will fall.
There are several factors that affect food prices in the country, and the strengthening of the ringgit is not the main cause.
One of the main factors is the cost of production in the country.
Costs such as workers' salaries, utility bills, and logistics are still high.
Although import costs may have decreased, these high production costs cause food prices to remain expensive.
In addition, there is also a delayed effect, where traders need time to adjust their prices after the ringgit strengthens.
This means that, even though the ringgit is stronger, the price of goods will not change immediately.
Rafizi also emphasized that the price of food items such as cereals and rice is influenced by global market prices.
The instability of commodity prices at the international level also affects food prices in Malaysia.
Therefore, even though the ringgit is strong, it does not guarantee a decrease in food prices.
