Due to currency depreciated in 2016, severe domestic inflation will be experienced in the next year. To make everyone aware of the price hikes that are about to happen, here’s a list of goods and services that will brew prices in 2017.
1. Edible Oil
According to new Edible Oil Stabilization Plan, the subsidy for edible oil is cut into two phases. It’s first phase is from November 1 to December 31, 2016 and second phase will happen on January 1, 2017. 1 kg to 5 kg of edible oil will rose more than RM1 per liter or between 39% to 61% range.
2. Milk powder
Though China’s milk powder are mainly imported from Australia and New Zealand are no exemption in the price hikes this coming 2017!
3. Home gas
According to the online report of China Daily, gas is also brewing price increases in the next year! The gas agent survey pointed out that the current 14 kg gas barrel which is RM26.60 is expected to rise RM6 to RM7 to RM32 or so due to the market demand. It is also speculated that gas prices may take effect on January 1, 2017.
4. Starbucks drinks
Malaysia Starbucks coffee chain, currently owned by BJFOOD Chen Zhiyuan is said to increase prices of Starbucks products by up to 5% in 2017.
5. Perodua
As the Malaysian ringgit against the US dollars and yen continue to decline, the major car dealers in Malaysia have announced car price hikes. Perodua will be announcing the price adjustment in 2017.
6. Medical cards
Since China’s medical expenses experienced high inflation in recent years, lots of insurance company bear huge medical expenses claims. Thus, excessive load to promote insurance company medical card premiums will range from 10 – 30%. However, some customers have been told that premiums are expected to rise from the beginning of this year.
7. Hospital medical expenses
Hospital medical expenses will also experience a price hike this coming year. Primary and secondary ward costs, production costs, physical therapy, radiotherapy and psychiatry are about to increase by up to 50% from RM800 to RM1,200 and RM2,000 to RM400 to 600 ringgit. Medical costs are estimated to rise as much as 50%; prices will be announced.
8. Airport tax
From January 1, 2017, domestic airport tax will began to adjust and unified RM11 as ASEAN countries airport tax also unified RM35. As for international flights, except ASEAN countries, airport tax at KLIA2 is RM50, airport tax at KLIA and other domestic airports is RM73.
9. Postage
According to news, less than 20 grams of standard mail postage will increase from the original 60 cents to 85 cents or 41.67%. 50 grams which is lighter from the standard mail postage will increase from the original 70 cents to 90 cents or 35.71%. As for the 50 grams of non-standard mail postage will raise from the original 80 cents to RM1.5 cents or 31.25%.
