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Submitted by William Kaelin
on Tue, 09/09/2008
Cambodian inflation was running at a record high of 22 percent for the year through July, Planning Minister Chhay Than said Tuesday.
Than blamed the global rise in oil prices for the increase in the Consumer Price Index, which ended 2007 at 18.7 per cent.
"The Cambodian inflation rate is at a record high and most of that rise can be blamed on global oil prices - completely out of the government's control," Than said.
But he said Cambodia anticipated a reduction in oil costs in coming months, and he hoped the inflation rate would fall in the fourth quarter accordingly.
Submitted by William Kaelin
on Tue, 09/09/2008
Cambodian inflation was running at a record high of 22 percent for the year through July, Planning Minister Chhay Than said Tuesday.
Than blamed the global rise in oil prices for the increase in the Consumer Price Index, which ended 2007 at 18.7 per cent.
"The Cambodian inflation rate is at a record high and most of that rise can be blamed on global oil prices - completely out of the government's control," Than said.
But he said Cambodia anticipated a reduction in oil costs in coming months, and he hoped the inflation rate would fall in the fourth quarter accordingly.
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