Higher allocation: Visitors walk past a giant rooster installation at a mall in Kuala Lumpur. Of the average Lunar New Year budget of RM4,201, a 9 increase from RM3,846 in 2016, respondents in a survey say they will allocate RM1,008 for food, a 14 increase from last year despite the higher cost of food this year. — AFP
Seasonal increase of up to 50% on some food items
PETALING JAYA: Higher food prices due to the weakening ringgit and the global increase in food prices are expected to cause Malaysians to spend 9% more this year on Lunar New Year festivities, according to the annual United Overseas Bank Malaysia Bhd’s (UOB Malaysia) Lunar New Year Survey.
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