KUALA LUMPUR: A recent statement by a retired economics professor that Malaysians are expected to spend astronomically this Ramadan and Hari Raya Aidilfitri has left other experts at odds with one another.
While some agree with the statement, they said this was mainly due to increases in the cost of living.
A representative from Nusantara Muslim Consumer Association (PPMN) told the New Straits Times that food prices had increased from last year.
"Last year, RM50 could last for a week, but today people would need about RM150," she said.
The PPMN representative's views were echoed by Federation of Malaysian Consumer Associations (Fomca) deputy secretary-general Nur Asyikin Aminuddin, who also warned that food prices were expected to increase further, until Hari Raya, due to shortages in raw materials.
However, she said consumers might also be overspending due to impulse-buying.
She advised the people to take less money to Ramadan bazaars to avoid overspending.
"In fact, they should not use e-wallets at the bazaars. This is because if they use e-wallets, they may not notice how much they are spending.
"RM10 to RM20 is enough for iftar food per family," she added.
They were commenting on a recent statement by economic expert, Professor Emeritus Dr Barjoyai Bardai, who said people are expected to spend as much as RM10 billion this Ramadan, including RM70 million a day at bazaars.
The retired professor had said the amount took into account the entire Muslim population of the country, which is estimated to be around 7.5 million Muslim families who roughly spend between RM20 and RM30 each day for breaking of fast.
However, he had said the amount did not take into account Muslim families who are able to spend and enjoy breaking of fast at hotel buffets that are far more expensive.
One expert, however, went completely against what Barjoyai said, saying that people will spend less at Ramadan bazaars this year.
Universiti Sains Islam Malaysia's Professor Dr Nuradli Ridzwan Shah Mohd Dali said his conclusion was based on a "small survey" he had conducted.
He said most consumers only spent an average of RM11 to RM20 per family, and not up to RM30 as Barjoyai had estimated.
However, he said expenses may be higher during this period because the new school term had recently begun.