PETALING JAYA: While the ringgit has strengthened against the US dollar by some 8% in the last year, retail prices of products imported from the United States have largely not come down in tandem with the exception of some non-food items.
Retailers and economists said that retail prices had not droppped due to higher production and logistics costs, while prices of higher-end goods were maintained due to strong demand. Prices of energy and commodities have risen sharply in the last year, driving the production cost of goods upward.