Logo of Phnom Penh Post newspaper Phnom Penh Post - Slight inflation bodes well for the Kingdom

Slight inflation bodes well for the Kingdom

Slight inflation bodes well for the Kingdom

PRICE inflation in Camboida increased 1.6 percent July compared to July last year, and 0.5 percent over June – a good sign for the Kingdom, according to country economist Chan Sophal.

Consumer Price Index figures obtained yesterday show rising costs for oil and gas led the rise in prices for the basket of goods tracked by the index – a weighted average of 259 common products ranging from biscuits to bicycles.

Fuel products were highlighted as the primary driver of the annualised 1.6 percent inflation in the figures compiled by the Ministry of Planning’s National Institute of Statistics.

Natural gas and petrol prices in the Kingdom increased by 32.2 percent and 17.7 percent respectively, the highest growth among the CPI items.

Cambodia Economic Association President Chan Sophal said inflation levels were still relatively small overall and were a positive sign for the nation’s economy.

“We haven’t closely kept track on prices of goods and commodities on the marketplace, but we have not seen any noticeable rises of the prices of goods last month,” he said.

Other categories seeing slight annualised increases included food and beverage, tobacco, clothing, footwear, water, electricity, healthcare, and transport. The largest drops were in telephone equipment, cars and grains excluding rice and cereal.

The CPI samples the prices of 259 goods from four outlets at five Phnom Penh markets.

Meanwhile, the riel, the predominant currency used in the tracking, has depreciated 2 percent against United States dollar since April.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Pursat Ford assembly plant opens

    The Kingdom’s first Ford assembly plant was inaugurated on June 16 in Pursat province amid rising demand for brand-new vehicles among Cambodians. The facility is seen as a game changer for the domestic automobile industry, which could bring a wave of investors seeking to cash

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • $50B infrastructure plan en route

    The government’s upcoming $50 billion,10-year infrastructure master plan will provide tremendous investment opportunities for domestic and foreign entities, transport experts and economists say. Minister of Public Works and Transport Sun Chanthol revealed the plan to Japanese ambassador to Cambodia Masahiro Mikami on June 15. At

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro