Rising Inflation and Escalating Cost of Living
By Yeong Pey Jung
January 2023 PENANG ECONOMIC INDICATOR
SUSAN (not her real name) is a home caterer who started her own business after losing her job during the pandemic lockdown. Though business had been good at first, she began to really feel the pinch of rising raw material and food prices in 2022. “Food prices at the beginning of the year were very obviously lower compared to the last few months. My spending on the raw materials of my business has increased by at least 5% in recent...
Yeong Pey Jung
is a senior analyst with the Socioeconomics and Statistics Programme at Penang Institute. She is a reading enthusiast and is surgically attached to her Kindle.
