# Malaysians cut back on imported goods as ringgit weakens

> Malaysian consumers are cutting back on imported goods and switching to cheaper local products as the weaker ringgit raises prices. The ringgit was down 5.5% year to date at 4.645 at Thursday's close.

- Date: 2023-07-01 · published 2023-07-01T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/35775-malaysians-cut-back-on-imported-goods-as-ringgit-weakens
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

Weaker consumer demand for imports reflects the currency's pass-through to domestic prices and slower growth. It has little direct effect on feed commodity prices.

## Sources

- straitstimes.com: https://www.straitstimes.com/asia/se-asia/malaysians-cut-back-on-imported-goods-as-ringgit-weakens

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.