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| cambodian inflation in the first half of 2008 |
| Cambodian inflation hit 37.2 percent in the first half of 2008 |
 PHNOM PENH: Cambodian inflation hit 37.2 percent in the first half of 2008, driven up by higher international food and fuel prices, the central bank said on Monday. The National Bank of Cambodia said the rise in prices in the first half from a year earlier would have been higher but for action taken by the authorities. It did not elaborate. It said that high bank lending and investment had contributed to the spike in inflation. The central bank is considering restrictions on lending to the private sector by the 20 commercial banks in the country, many of them foreign owned. The International Monetary Fund (IMF) estimated in June that the annual inflation rate had jumped to 18.7 percent in January from 10.8 percent in December. The IMF also said that bank lending early in 2008 had more than doubled from a year earlier. reuters |
| Posted on Aug 26, 2008, Resource from Daily Times |
COME ON OVER,...
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PHNOM PENH: Cambodian inflation hit 37.2 percent in the first half of 2008, driven up by higher international food and fuel prices, the central bank said on Monday. The National Bank of Cambodia said the rise in prices in the first half from a year earlier would have been higher but for action taken by the authorities. It did not elaborate. It said that high bank lending and investment had contributed to the spike in inflation. The central bank is considering restrictions on lending to the private sector by the 20 commercial banks in the country, many of them foreign owned. The International Monetary Fund (IMF) estimated in June that the annual inflation rate had jumped to 18.7 percent in January from 10.8 percent in December. The IMF also said that bank lending early in 2008 had more than doubled from a year earlier. reuters