Since she took over her father’s yong tau foo stall 13 years ago, Madam Lee Siew Khim had raised her prices only once before, in 2019.
But Madam Lee, 50, who runs Xiu Ji Ikan Bilis Yong Tau Fu at Chinatown Complex Food Centre, will be increasing prices at her stall from next month due to rising costs. Her stall sells a bowl of six pieces of yong tau fu or a bowl of noodles or bee hoon with four pieces of yong tau fu for $3. Their price will go up to $3.50.
Madam Lee is one of 38 hawkers whom The Straits Times spoke to about how the Russia-Ukraine crisis and inflation have impacted their business. Seventeen of them said they will consider reviewing their prices if supply costs and overheads continue to rise.
Madam Lee said the prices of ingredients have been creeping up over the past year. For instance, the cost of an 18kg tin of vegetable cooking oil is now $50, from $35 in March last year.
She said: “I use three tins of vegetable cooking oil a week at my stall, so I spend about $150 on cooking oil per week. If I don’t increase my prices soon, it would be quite hard for me to sustain my profits.”
Mr Lee Yong Wen, 30, who runs Mr Meepok at a coffee shop in Clementi West, is also reviewing prices at his stall after the electricity bill rose by over $1,000 last month.
“The prices for many things, like eggs, have been increasing in the past weeks and are set to increase more in future. The inflation definitely hit us badly,” he added.
Esta historia es de la edición March 14, 2022 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 14, 2022 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
‘NEVER-ENDING’ SUCCESS FOR TAN
S’porean adds cup to league title, Dortmund keen to retain her services for next season
BOSTON PUT PAST BEHIND TO PROGRESS
Celtics take revenge on Heat with big win to book place in 2nd round of NBA play-offs
TAN THE MAN AT BARRIER TRIALS
Low-profile trainer makes presence felt with Single Warrior, Big Union at morning hit-outs
DBS starts the year strong as Ql profit hits new high of $2.95b
Its fee income gets boost from stronger market sentiment, higher card spending
Fed keeps rates at 23-year high amid stubborn price rises
US central bank cites lack of further progress’ towards its 2% inflation target
South Korea’s inflation slows more than expected in April
But weakening won poses challenge to policymakers’ efforts to cool price growth
Qualcomm gives upbeat sales forecast In sign of smartphone recovery
China remains crucial amid sales surge to its phone-makers in first half of fiscal year
Driver in crash that killed prof was checking GPS on phone
He says he was in a state of panic when he told police officer he had fallen asleep at the wheel
Agencies hold joint counter-terrorism exercise
A joint counter-terrorism exercise by various government agencies was held on April 30 and May 1 to test the Republic's preparedness in the event of a terror attack, the police said on May 2.
Five-year-old is youngest S'porean to reach Everest Base Camp
Pre-schooler makes trek to camp situated at altitude of 5,364m in Nepal with his father