Budget 2022 debate: Melvin Yong on managing cost of living
Introduce mandatory unit pricing for supermarkets and grocery retailers to prevent stores from maintaining prices while reducing product quantity. This was a suggestion by MP Melvin Yong in Parliament on Tuesday (Mar 1). Mr Yong, who is also president of consumer watchdog CASE, said its Price Kaki app will be expanded this year. The app, which allows consumers to compare prices of household essentials, groceries and hawker food, will more than double its coverage of cooked food stalls and essential items. Mr Yong also noted that to manage the cost of living, wages must rise in tandem with inflation. However, there are barriers to this, including the rise of the “work from anywhere” trend which could be leading to “invisible” competition for jobs. Mr Yong called on the Government to study this phenomenon and, if necessary, review its labour policies and economic strategies.
Introduce mandatory unit pricing for supermarkets and grocery retailers to prevent stores from maintaining prices while reducing product quantity. This was a suggestion by MP Melvin Yong in Parliament on Tuesday (Mar 1). Mr Yong, who is also president of consumer watchdog CASE, said its Price Kaki app will be expanded this year. The app, which allows consumers to compare prices of household essentials, groceries and hawker food, will more than double its coverage of cooked food stalls and essential items. Mr Yong also noted that to manage the cost of living, wages must rise in tandem with inflation. However, there are barriers to this, including the rise of the “work from anywhere” trend which could be leading to “invisible” competition for jobs. Mr Yong called on the Government to study this phenomenon and, if necessary, review its labour policies and economic strategies.
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