Forecast 2011 inflation to double last year
The inflation in Cambodia could probably double the one of last year in 6.5 percent, reported the International Monetary Fund. In 2010 it was 3.1 percent. However, other groups estimated a lower inflation for the country like the World Bank that reported 5 percent, the Asian Development Bank in 5.5. percent and the Cambodian government in less than 5 percent. The president of the Cambodian Institute for Development Study, Kang Chandararot, said to the Chinese press agency Xianhua that the IMF forecast is more possible: ‘Now we have observed that petroleum and food prices in Cambodia have been skyrocketing,’ he noted, but he concluded that the rate is still ‘low and manageable.’ The US dollar has fall 2 percent to 3,982 riels. In 2010 it was 4,060 in a country that uses two currencies.