Logo of Phnom Penh Post newspaper Phnom Penh Post - Inflation stays low, says NBC report

Inflation stays low, says NBC report

Inflation stays low, says NBC report

T

HE second monthly bulletin of the National Bank of Cambodia covering February

1994 is upbeat about most economic indicators.

Inflation as measured by

the consumer price index showed a sharp downward trend, with price increases

standing at just 0.88 percent during the month. According to the report, that

small increase was largely due to a hike in the cost of electricity. But the

rate is significantly less than even that in January of 2.23 percent.

The rate of increase in money supply is also down to 7.5 percent from

January's 8.5 percent.

The riel remained fairly stable against the

dollar through February, with the official exchange rate appreciating marginally

by 0.4 per-cent to 2470 riel to the dollar. This was reflected in gold prices

which declined by about 4 percent to 112, 900 riel per chi of gold.

The

report is also optimistic about the position of foreign exchange reserves, which

have recorded an increase of 11.4 billion riel in February and now stand at

321.9 billion riel. But this 4 per cent increase is not as high as the 19 per

cent gain recorded the previous month.

Credit to the Royal government

increased by about 7.2 billion riel. But credit to the private sector has

reduced about 6.9 per cent from 181.94 billion riel in January to 169.4 billion.

The report says, "viewed in the context of the sharp 12.6 per cent

increase in January... the level of credit still remains significantly higher

than the December 1993 level."

MOST VIEWED

  • Omicron patients can stay home: PM

    The Ministry of Health has issued a directive on the treatment of people who have tested positive for the highly transmissible Omicron coronavirus variant, following a suggestion from Prime Minister Hun Sen on the night of January 21. The directive permits home quarantine for those who

  • The effects of the USD interest rate hike on Cambodian economy

    Experts weigh in on the effect of a potential interest rate expansion by the US Federal Reserve on a highly dollarised Cambodia Anticipation of the US Federal Reserve’s interest rate hike in March is putting developing economies on edge, a recent blog post by

  • Cambodia’s first ever anime festival kicks off Jan 22 at capital’s F3 centre

    Phnom Penh's first ever Anime Festival will bring together fans, artists, shops and other local businesses with ties to the Japanese animation style for cosplay competitions, online games, pop-up shops and more on January 22, with Friends Futures Factory (F3) hosting. F3 is a project that

  • Hun Sen gets 4th Covid shot, urges compatriots to follow

    Prime Minister Hun Sen and his wife Bun Rany on January 14 received their fourth dose of Covid-19 vaccine and called on compatriots to follow suit as the Omicron coronavirus variant continues to spread in the community. This marks the launch of Cambodia's fourth-dose vaccination campaign,

  • Fourth dose Covid booster drive jabs 43K in two days

    In the first two days of the fourth-dose Covid-19 vaccination campaign, more than 43,000 people volunteered to get the jabs, while over 4.6 million people have received a third shot. Health ministry spokeswoman Or Vandine said that fourth-dose vaccinations, which began on January 14 exclusively with the Pfizer

  • Singapore backs Cambodia's efforts on Myanmar

    Singaporean Prime Minister Lee Hsien Loong supports Cambodia in its efforts to seek a solution to the ongoing Myanmar crisis as the chair of ASEAN. Lee expressed his support during a meeting with Prime Minister Hun Sen via videoconference on January 14, with the talks focused