Falling ringgit, rising prices

Pricey exchange: A customer paying more to buy US dollars at a money changer in Petaling Jaya. The ringgit continues to fall against the greenback, hitting a new low of 4.0275.

PETALING JAYA: Prices of many goods and services with foreign content, ranging from imported milk powder to an overseas university education, will go up with a falling ringgit.

But economists say any sharp hike will only occur if the value of the ringgit were to plummet suddenly, something that has not happened with the current depreciation, which has been gradual over the months.