Price index shows rise in petrol, vegetables

CONSUMER prices increased nearly two percent in September this year, compared to the same month of last year, according to government figures.

The price of fuel, transport, and vegetables saw some of the largest increases in the basket of goods – a sample of 259 items observed mainly in five Phnom Penh markets, measured by the National Institute of Statistics at the Ministry of Planning.

The CPI was up by 1.9 percent in September, compared to the same month last year. Month on month, prices rose 0.7 percent over September, a lower rate than the 0.9 percent monthly rise in August.

Rebounding demand, met by increased imports, from an improving economy was the main reason behind the CPI increase, according to Neou Seiha, senior researcher at the Economic Institute of Cambodia.

Although rising prices may affect the Kingdom’s poorest, he said there was no cause for alarm. “Prices are increasing at a manageable rate,” he said.

One of the largest gains was gasoline, which climbed 12.2 percent in September 2010 compared to the same month last year. Other large gains were seen among leafy vegetables, which increased 8.6 percent, fish was up 7.9 percent, and confectionary such as sugar, and chocolate increased 12.4 percent by the end of the third quarter compared to the same date 2009.

Meanwhile, rice prices were down 1.9 percent, and wine prices fell 6.1 percent year on year.

Consumer prices over the first nine months of 2010 were 4.21 percent higher than prices over the same period of last year, according to the data.

(source from the phnompenh post newspaper, Thursday, 28 October 2010 15:00 May Kunmakara)