Inflation near 8%, riel depreciates, trade deficit narrows in June

Inflation for Cambodia reached 7.85% in June 2022 comparing with YOY(Year-on-year) basis to 7.17% the previous month, which was the highest in over a decade. While the value of Riel has fallen to 0.07% to 4,091 riel per USD and the international trade deficit has further narrowed by about $898 million, according to the report of NBC (National Bank of Cambodia). The economic and Monetary Statistics rleased by NBC on Monday shows the rise of the YOY CPI(Consumer Price Index) reflect mainly the increase in the price of oil and food compared to the prices in May 2022 on which the exchange rate between Riel and USD in the foreign exchange was 4,093riel per USD. The statistics of import and export for Cambodia in the monthly report released by the statistics department of NBC also pointed out the total export surged by 10.4% in June 2022 compared to May of the year when the trade deficit was approximately $1.28 billion, while the total imports fell by 6.7%. (Source: Khmer Times)