Weakening ringgit, politics affecting retail sector; prices may rise

Weak ringgit is affecting cost of goods due to higher import cost, says Retail Group Malaysia MD Tan Hai Hsin (pic). Graphics shows the declining foreign reserves.

PETALING JAYA: The weakening ringgit and unabating political issues in the country are affecting consumer sentiment and negatively impacting the local retail sector.

The weak ringgit is affecting the cost of goods due to higher import cost, according to Retail Group Malaysia (RGM) managing director Tan Hai Hsin.