The rising cost of living continues to be an issue for many Malaysians, especially those in the lower-to-middle class. Despite talks that the Ringgit is strengthening, we still see items and services increase in price, causing a burden for many of us. There are also reports that Malaysians may see an inflation hike just as the new year comes around, drawing more concern.
As the new year approaches, we’ll need to prepare for a price hike for some of our daily necessities. Individuals with health issues or dependency on medical services might also need to get ready to deal with increased prices on insurance premiums. While it’s unfortunate, here is a list of products and services that will likely increase in price starting in 2025.
Nasi Lemak
Malaysians will likely see a price increase on our favourite breakfast dish, the nasi lemak. Starting in 2025, expect to pay more extra for a packet of nasi lemak as its key ingredient, coconut milk, slowly increases in price. Many local vendors have already started marking higher prices for their nasi lemak, with many saying they have to do so to earn a profit.
Essential Groceries
On the same wavelength, essential groceries like eggs, rice and sugar might also see an increase. Many economists have predicted that groceries will face a price hike in 2025, as it did in 2024. Some highlighted that food prices have already begun rising and will only continue to increase as the new year approaches.
Medical Insurance Premiums
As mentioned, medical insurance premiums will also increase in price starting in 2025. According to reports, policyholders may need to pay 40% to 70% more on their medical insurance premiums in 2025. Many insurance providers have explained the price hike, noting rising healthcare costs at private hospitals.
School Canteen Meals
Along with the rising price of groceries, school canteen meals will also likely see an increase in price starting in 2025. Over 10,000 school canteens will likely raise prices by 50% next year. However, Education Minister Fadhlina Sidek said school canteen operators will need to reach a consensus with the school and parents before raising prices.
Entertainment Subscription Services
Also increasing its prices in 2025 are entertainment subscription services, like Netflix and Spotify. Netflix has already increased prices to their existing plans in November 2024 in anticipation of inflation. Meanwhile, Spotify recently updated its Family Sharing plan, charging for additional profiles.
Unfortunately, more products and services might suddenly increase in price without notice, so Malaysians are urged to prepare for anything. What are your thoughts on this?
Sources: SinarDaily, New Straits Times, The Rakyat Post (1)(2), Astro Awani, Lowyat.net
