PHNOM PENH, Jun 12, 2009 (Xinhua) -- Phnom Penh's Consumer Price Index (CPI) has decreased 5.7 percent since inflation hit record high in May of 2008, local media reported on Friday.
Cambodia's inflation hit its highest ever level in May of last year, when price shot up by 25.7 percent compared to the same period in 2007, English newspaper the Cambodia Daily said, citing the latest CPI released this week by the National Institute of Statistics.
The most significant declines were in the prices of food and fuel, commodities that had driven inflation last year. The price of gas has plummeted by 41.1 percent in the last year, while the CPI for rice dropped 21.2 percent. Pork prices also fell significantly, decreasing by 15.7 percent compared to last year and overall food prices have fallen by 7.1 percent in the last 12 months.
Despite a decrease in year-on-year inflation, however, prices in Phnom Penh went up for the third month in a row. May's CPI was one percent higher than April's.
Phnom Penh's CPI is calculated for 259 items from observations taken at a sample of four outlets at each ot five markets throughout the city. To calculate the rate of inflation, some items are weighted more heavily than other to reflect how frequently they are purchased by consumers.
Cambodia's inflation hit its highest ever level in May of last year, when price shot up by 25.7 percent compared to the same period in 2007, English newspaper the Cambodia Daily said, citing the latest CPI released this week by the National Institute of Statistics.
The most significant declines were in the prices of food and fuel, commodities that had driven inflation last year. The price of gas has plummeted by 41.1 percent in the last year, while the CPI for rice dropped 21.2 percent. Pork prices also fell significantly, decreasing by 15.7 percent compared to last year and overall food prices have fallen by 7.1 percent in the last 12 months.
Despite a decrease in year-on-year inflation, however, prices in Phnom Penh went up for the third month in a row. May's CPI was one percent higher than April's.
Phnom Penh's CPI is calculated for 259 items from observations taken at a sample of four outlets at each ot five markets throughout the city. To calculate the rate of inflation, some items are weighted more heavily than other to reflect how frequently they are purchased by consumers.
1 comment:
it is normal in the free market society like fledgling cambodian market society. the market index go up and down with the rate of inflation, deflation, the supply and demand, etc, etc... it's normal all over the world.
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