A study on consumers pattern of spending after the price increase in consumer products (Labuan) / Evelyn Simon Kinajil

We are all aware of the drastic increase in daily expenditure due to the increase in fuel prices and other related commodities. The price for our basic daily food for example, rice, is not spared of this spiral effect. Our daily conversation topics these days are centered on the rising costs of everything. The increase in the prices of petrol and diesel by 78 sen and RM1 per liter respectively is an eye-opener to consumers in planning their expenditure more wisely in the wake of costlier commodities. The increase was beyond anyone's control and consumers should now strive to spend within their means. The price increase is inevitable. What is important now is that consumers should be thrifty and try to find ways to stretch their Ringgit or additional income. What consumers are concerned of is the domino effect on other consumer goods. It is normal that when the prices of fuel go up, the price of food and other consumer products will similarly increase. As fuel is needed for transportation and manufacturing activities, any increase in its prices will definitely impact both sectors. The effect on both sectors would bear upon the prices of goods and services down the line, which ultimately will have to be borne by consumers.