Cambodia’s inflation rate rises to 7.1% in June

August 22, 2011
Ebeling Heffernan

Cambodia’s consumer price index (CPI) inflation rate has continued to rise to 7.1% in June, up from 6.5% in May and 5.1% in April, according to the latest statistics released from the National Institute of Statistics (NIS) Monday.

“The main increase for the 7.1% rate of inflation in June this year was due to group of food and non-alcoholic beverage; alcoholic beverages, tobacco and narcotics; clothing and footwear; transport; restaurants; and miscellaneous goods and services,” the report said.

The data recorded that from May to June this year, the prices for food continue to increase by 0.7%, the price of meat increased by 1.5%, the price of fish and seafood increased by 1.9%, the prices of pork and beef rose by 1.5 and 2.7% respectively.

It added that the price for transport increased by 0.7%, the price for gasoline increased by 1.4%, and the price for restaurants rose by 1%.

Gasoline is the main item fueling month-on-month rise in inflation, a liter of gasoline in Cambodia costs US$1.34 Monday, 7% rise from US$1.25 in January.

Nguon Sokha, director general of National Bank of Cambodia, warned that the Country’s inflation this year could hit 8% this year due to rising prices of petroleum and food.

Earlier this year, the International Monetary Fund, the World Bank, and the Asian Development Bank forecast the country’s inflation rate in Y 2011 could be at 6.5%, 5 and 5.5% respectively, while the government of Cambodia predicted the rate to be at most 5%.