PHNOM PENH, Feb. 2, 2012 (Xinhua) -- Cambodia's inflation rate stood at 5.5 percent last year, an increase of 1.5 percent from 4 percent in a year earlier, according to the report of the Finance Ministry on Thursday.
The rate was the same one forecast by the Asian Development Bank, but lowered than the forecast by the International Monetary Fund and the World Bank at 5.7 percent and 7.5 percent respectively.
Soaring oil prices mainly drove up the inflation rate last year. A liter of premium gasoline goes for 1.4 U.S. dollars on Thursday, up 12 percent compared with this time last year.
The ministry predicted that the Consumer Price Index (CPI) inflation rate in 2012 and 2013 would be at 5 percent and 3 percent respectively.
The report also recorded that the Cambodian "riel" currency value remained stable last year compared to the U.S. dollar -- at 4,040 riel against a U.S. dollar.
Editor: Lu Hui
The rate was the same one forecast by the Asian Development Bank, but lowered than the forecast by the International Monetary Fund and the World Bank at 5.7 percent and 7.5 percent respectively.
Soaring oil prices mainly drove up the inflation rate last year. A liter of premium gasoline goes for 1.4 U.S. dollars on Thursday, up 12 percent compared with this time last year.
The ministry predicted that the Consumer Price Index (CPI) inflation rate in 2012 and 2013 would be at 5 percent and 3 percent respectively.
The report also recorded that the Cambodian "riel" currency value remained stable last year compared to the U.S. dollar -- at 4,040 riel against a U.S. dollar.
Editor: Lu Hui
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