“The cost of living in Malaysia has increased significantly in recent years, which has led the population to tighten its belt. While low-income families receive support through different welfare programs and highly-paid professionals benefit from a reduced income tax, it is the middle class that struggles the most.” [More]
Image from Facebook.
With the increase of the cost of living means that there’s a reduction in the purchasing power. Say with RM 50.00, how many items can you purchase that will sustain you and your family through a month?
Some of our food prices have made a leap since last year.
Image from http://www.straitstimes.com/
We can no longer afford the prices of what we have enjoyed yesterday from electricity and petrol to food. Why? It’s because “businesses will continue passing on the cost, or just jump on the bandwagon, especially if they think that costs will go up further this year. This is only the beginning.” says a political scientist, Wong Chin Huat. [More]
Can we associate the reduction of purchasing power to poverty?
Gone are the days of our grandparents whereby we hear their stories of ‘nasi lemak‘ or ‘loh shi fun‘ priced between RM 0.01 – RM 0.20 but then, they too have a fair share of sad stories about their lives in poverty and the terror of world war 2 in their days.
Looking back at the past, I can’t help but to ponder why can’t our grandparents afford things when the food prices were seen as relatively cheap for us now? Have we really tackled the issue of poverty at the core? Is poverty manifesting in a different garb in today’s era? Are we looking at poverty and tackling the issue correctly?
Anyway here’s a video of the perspective of our youth about poverty and the purchasing power.
What do you think?