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Cambodia’s inflation rate decelerated to 3% last year, down from 4.9% in the prior year, Governor of the National Bank of Cambodia NBC Chea Chanto said Saturday.
“This is a remarkable drop and the 3% rate last year is low and controllable,” he said in a speech during the annual NBC conference.
In Y 2012 the Cambodian Riel currency appreciated about 1.7% against the USD.
The country’s gross official reserves have continued their steady rise to US$3.7-B by December last year, said the Governor.
Last year’s lower inflation rate was thanks to stable prices of food. However, gasoline price remains high.
On Saturday, a liter of gasoline was US$1.36 at the pump.
The Asian Development Bank ADB and the International Monetary Fund IMF predicted in October that the country’s inflation was 3 and 3.5% respectively in Y 2012 due to moderate price increases for food and fuel.
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