Wednesday, April 02, 2008
dailytimes.com.pk
PHNOM PENH: Annual inflation in Cambodia has hit a nine-year high of 10.8 percent, largely due to soaring fuel and rice prices plus the declining value of the US dollar, its de facto currency, the World Bank said on Tuesday.
The surge in prices for the year to December 2007, the most recent month for which data was available, was unlikely to threaten the Southeast Asian country’s rapid economic growth but could hit its poorest people hard, the bank said.
The cost of rice, the staple food of the country’s 14 million people, has nearly trebled in the last three months to $0.92 a kg amid worries about international supply constraints, prompting Prime Minister Hun Sen last week to ban exports for two months. reuters
dailytimes.com.pk
PHNOM PENH: Annual inflation in Cambodia has hit a nine-year high of 10.8 percent, largely due to soaring fuel and rice prices plus the declining value of the US dollar, its de facto currency, the World Bank said on Tuesday.
The surge in prices for the year to December 2007, the most recent month for which data was available, was unlikely to threaten the Southeast Asian country’s rapid economic growth but could hit its poorest people hard, the bank said.
The cost of rice, the staple food of the country’s 14 million people, has nearly trebled in the last three months to $0.92 a kg amid worries about international supply constraints, prompting Prime Minister Hun Sen last week to ban exports for two months. reuters
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