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Consumer food prices on the slide in April

Consumer food prices on the slide in April

CAMBODIA saw its first month of deflation this year as the price of consumer goods slid by 0.3 percent in April, when compared to March, government figures released Friday reveal.

The Consumer Price Index (CPI), drawn up by the National Institute of Statistics (NIS), showed that prices stood 5.3 percent higher than in April this year, compared to April 2009.

The rate, however, slowed from 6.7 percent annualised inflation seen the month before.

The price of consumer goods also declined month on month, with average prices 0.3 percent below March levels.

The NIS reports that the rate of annualised inflation is manageable.

“Our inflation rate at this point is normal. It is not too big and small. But, if it reaches more than 5.5 percent then we will have to reconsider that,” an NIS source, who wished to remain anonymous, said Friday.

The source added that the slight deflation seen in April was due to a fall in oil and gas prices, in addition to a decline in the price of meat and fish.

According to the report, fuel prices, measured together with housing costs, water and electricity rates, fell 0.3 percent month on month, with food also down 0.3 percent.

The items with the biggest monthly falls were seafood, prices for which declined by 5.5 percent in April, and infants’ clothing, which was down 6.1 percent.

Petrol prices remained high with an annual rise of 36.5 percent and a 1.6 percent monthly increase, driven by crude prices on international markets.
The source predicted that inflation will fall further next month, to around 4 percent, if petrol prices decline.

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