I have been observing the ground sentiments when the Federal Government first announced the price hike for five items on Ron 95, Ron 97, diesel, LPG and sugar.
Although the people on the streets, majority of whom are middle class, have been quite quiet about the price hike, they will grumble if the price hike do not correspond with the net salary they bring home every month.
I observe that urban inflation rate has been growing slowly in recent years despite the fact that wages in most of the urban areas in Malaysia have hardly gone up. The starting salaries in many industries today pales in comparison with the price of a house, car or food which has risen years or decades ago.
Price hike in major items must be accompanied with higher salaries as a result of a more efficient marketplace brought about by a more efficient, healthier and cleaner economy aided by the removal of subsidies. Else price hike will be seemed as an additional taxation.
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