By Ky Soklim Cambodge Soir Hebdo Translated from French by Tola Ek Click here to read the article in French
Several voices rose up in Cambodia to denounce the high price of goods, in particular food staples.
Rong Chhun, President of the Cambodia Independent Treachers’ Association (CITA), asked Hun Sen once again to lower the price of gasoline to 2,000 riels ($0.50) per liter, whereas its current price is now at 3,200 riels ($0.80). According to Rong Chhun, even though the price of gasoline is decreasing during the last few weeks, it still remains high in comparison to oil price on the world market. “Furthermore, while the price trend for crude oil is moving down, the price for food staples is not budging at all. I hope that Hun Sen will react,” Rong Chhun explained in his press release.
Chan Sophal, president of the Association of Cambodia’s Economists, noted that the price of foods has lowered slightly when compared to a few months back. However, it remains high. “Food price cannot lower easily because labor cost has increased,” he explained.
In May 2008, the inflation rate reached 25.5%, i.e. double the rate from the end of 2007. But, according to a World Bank report, the inflation rate lowered to 18% in October 2008. “Due to the lowering of oil and food price, the inflation rate could lower to 16% in 2008 and to 10% by the end of 2009,” the WB report stated.
Rong Chhun, President of the Cambodia Independent Treachers’ Association (CITA), asked Hun Sen once again to lower the price of gasoline to 2,000 riels ($0.50) per liter, whereas its current price is now at 3,200 riels ($0.80). According to Rong Chhun, even though the price of gasoline is decreasing during the last few weeks, it still remains high in comparison to oil price on the world market. “Furthermore, while the price trend for crude oil is moving down, the price for food staples is not budging at all. I hope that Hun Sen will react,” Rong Chhun explained in his press release.
Chan Sophal, president of the Association of Cambodia’s Economists, noted that the price of foods has lowered slightly when compared to a few months back. However, it remains high. “Food price cannot lower easily because labor cost has increased,” he explained.
In May 2008, the inflation rate reached 25.5%, i.e. double the rate from the end of 2007. But, according to a World Bank report, the inflation rate lowered to 18% in October 2008. “Due to the lowering of oil and food price, the inflation rate could lower to 16% in 2008 and to 10% by the end of 2009,” the WB report stated.
3 comments:
It is becoming culture. What goes up must stay there, Srok Khmer!!!
Cambodian government should do something about the foods prices..don't we have a laws for the market prices?? In thailand they have a laws, nobody can just raise the prices for whatever they wanted...
What a dumb and stupid government is..allowing people jacking up the prices for whatever they wanted..this is just another weakness of the government and the country!
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