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Cambodia's inflation sees rise in May

PHNOM PENH
2022-07-20 13:51

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PHNOM PENH, July 20 (Xinhua) -- Fueled by rising global oil and food prices, Cambodia's inflation rose to 7.2 percent in May, the highest rate in more than a decade, Chea Chanto, governor of the National Bank of Cambodia (NBC), said here on Wednesday.

"To contribute to controlling inflationary pressures, the exchange rate, riel against the U.S. dollar, has been stabilized to protect the purchasing power of the riel," he said in an opening speech of the NBC's biannual meeting.

If the riel currency depreciates, it will immediately lead to an increase in the prices of goods and services, he added.
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