Ringgit To Get Smaller As DHL Express Increase Courier Prices By 7.9%
The price hike by DHL Express takes effect starting 1 January 2023.
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Malaysians are getting less for their money as products get smaller and prices get higher.
Starting 1 January 2023, DHL Express, the international express service provider, will increase the average price for its courier services.
DHL Express said the price adjustment for shipping services would increase by 7.9% compared to 2022.
If any consolation, the price hike is also affected by other countries where DHL Express operates.
DHL to hike prices in India by 7.9 % in 2023. This is the highest price increase in five years. Story for @businessline . @DHLExpressIndia Read ⬇️ https://t.co/c38CPxzQPa— Aroosa Ahmed (@iAroosaAhmed) September 23, 2022
Julian Neo, Managing Director, DHL Express Malaysia, said 2022 has been a turbulent year with unstable market conditions, which are indeed very challenging for global trade.
However, we have proven our ability to offer stable and reliable services to our customers around the world. With the annual price adjustment, we are able to invest in our infrastructure and technology to ensure resilient, sustainable, and world-class customer solutions.Julian Neo, Managing Director, DHL Express Malaysia on the rationale behind the price increase.
Neo said the improvement would include state-of-the-art aircraft and vehicles and expanding hubs and gateways to meet increasing customer demand.
DHL Express will invest in green and more sustainable solutions, such as Sustainable Aviation Fuel and electric vehicles.
Prices are adjusted on an annual basis by DHL Express, taking into deliberation the inflation and currency dynamics, as well as administrative costs related to regulatory and security measures.
Depending on local conditions, price adjustments will vary from country to country.
Is Malaysia In Inflation Now?
The price hike by DHL Express will be unpleasant news for the people.
Malaysia’s inflation increased 3.4% to 127.4 in June 2022 as against 123.2 in the same month of the preceding year.
READ MORE: Massimo Bread Price Increase: KPDNHEP Asks For Justification
The food index expanded by 6.1 per cent and remained the major contributor to the rise in inflation during June 2022.
The rising prices of goods due to inflation have put an additional burden on the community, and some even have to eat less to ensure they have enough money to go by.
This inflation is affecting not only Malaysia but the whole world.
'Apple says it will increase App Store prices across Europe & in some Asian markets next month as currencies weaken against the strong US$.— Brandon (@b3108) September 20, 2022
All countries using the Euro, Sweden, South Korea, Chile, Egypt, Malaysia, Pakistan, Vietnam, & Japan will be affected by the price hikes.' https://t.co/4Vr8Mdf9lg
Money Not Enough
So how to deal with it?
Firstly, we can reduce purchasing goods whose prices have increased to cover our daily expenses or look for discounts and bargains so we can meet our monthly budget.
Aku kena puji promotion @McDMalaysia ni, dikala harga barang makanan tgh naik, syarikat ini buat promo sampai 40% diskaun. Salute mekdi. Terima kasih sebab bagi harga murah! Now soalan cepumas, bila mau bukak 24 jam daaa https://t.co/alCyFidRvf— PARPUKARI™️ (@ParpuKari) September 26, 2022
Secondly, add other income so that we can still afford to buy the goods in question even in prices continue to rise.
We can also invest in assets with returns that outpace the inflation rate, such as real estate.
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