From export bans to price controls, governments in Asia are taking a much more targeted approach than their Western counterparts in curbing global inflationary pressure, a strategy that appears to be working at least for now.
"We have not seen any weakening in purchasing power," said Baskoro Santoso, investor relations officer at Indonesian snack maker Mayora Indah. Although many retailers in Southeast Asia's largest economy have still had to pass on price hikes, household demand remains strong and inflation is within the central bank's two to four per cent target band.
And this week, Malaysia said it would stop exports of 3.6 million chickens monthly from June until prices stabilised. It also runs mechanisms to subsidise fuel and cooking oil. Walmart, Target and Kohl's were among major US retailers that reported earnings this month that missed Wall Street expectations by the widest margin in at least five years due to surging inflation.
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