Found this e-book (sorry, couldn't find an English version for those whose grasp of Malay is not
something you are proud of) that presents an alternative take (to those of the mass media) on the rising cost of living in Malaysia.
You might have been aware that recently the Malaysia goverment increased the subsidised petroleum price by 30cents (~20%) to slightly less than RM2 per liter. This caused a waterfall effect where by the general cost of living went up (food, services, basically everything). There was even a case where the roti canai sellers increasted the price of roti canais by 30cents before the government issued an edict that prevented the prices of food from rising and forced the price back before the petrol price hike. But, the natural order of things prevailed. The food hawkers just worked around this by reducing the portions while maintaining the price. Shrug. Welcome to Malaysia.
As a result, the CPI (Consumer Price Index, generally used as a benchmark of inflation) rose to 4.8% in March, when the average Fixed Deposit (FD) rates was 3.8%!. In other words, you actually lost money if you kept your hard earned income in FDs....And guess what? The government just increased the interest rates in late April; cars and houses just got dearer if you need a loan. Sadly, the FD rates has yet to increase in a similar fashion (correct me if I'm wrong).
It's sorta depressing to come across these few facts from the e-book:
- The richest 10% controls 38% of the total Malaysian wealth
- Malaysia has the largest Gini coefficient (a measure of the income gap between those who have and those who don't) in the ASEAN region.
- 43% of the population has a household income of less than RM1500 and 58% has less than RM2000.
Read the e-book with a pinch of salt; it's someone's interepration/opinion based on selected facts; rarely do you get the whole picture from 1 source. It does raise some interesting thoughts though...
-I was happily drunk, till life made me sober