Inflation in Cambodia.
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Re: Inflation in Cambodia.
Beer prices are the same around 1$ for a can of Cambodia in a bar, so not much Inflation here.
- Mr.November
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Re: Inflation in Cambodia.
Tomatoes in 2020 were $1 per kg at the market, today $2/kg. Most other vegetables, meat and many groceries in supermarkets are more expensive now. Fuel is $1.10 per liter vs. $0.80 in 2019.
However, everything else - rents, utilities, hotels, services, entertainment costs, tuktuks, pretty much the same as in 2019. As per Trading Economics forecasts, inflation in Cambodia should be 2.9% in 2021 and is forecasted reach only 2.5% in 2022.
Not sure how Trading Economics website got their figures, but I think you shouldn't be worried about inflation here as the economy is dollarised and dollars are in very high demand.
However, everything else - rents, utilities, hotels, services, entertainment costs, tuktuks, pretty much the same as in 2019. As per Trading Economics forecasts, inflation in Cambodia should be 2.9% in 2021 and is forecasted reach only 2.5% in 2022.
Not sure how Trading Economics website got their figures, but I think you shouldn't be worried about inflation here as the economy is dollarised and dollars are in very high demand.
Re: Inflation in Cambodia.
Cooking gas 16.5$ 6 weeks ago to 19$ now...
20 litre bottles of water up 500 to 4,500 riel.
The limited supply of vegetables up a lot...
20 litre bottles of water up 500 to 4,500 riel.
The limited supply of vegetables up a lot...
Re: Inflation in Cambodia.
I agree with you on the gas price with me paying the same amount recently, but that is obviously because of higher fuel prices in general. Water I am still paying 3,500 riel including free delivery. But the limited supply of vegetables doesn't necessarily mean higher restaurant prices, but more like a lesser portion or the dish is sold out or not available.
Always "hope" but never "expect".
Re: Inflation in Cambodia.
Pssst, Don't hold your crypto on an exchange, if you don't have it in your wallet with the private keys you don't own it. Just like with banks it's just an iou if you keep yr crypto on an exchange.Kammekor wrote:Yes, prices are up in Cambodia, no doubt. Especially food is getting more and more expensive, but fuel also went up about 20% over the last weeks.Kampuchia Crumbs wrote: ↑Wed Nov 24, 2021 1:50 am Just curious about Inflation in Cambodia. Becoming a concern here in the US, and since the Cambodia currency is tied to the dollar (???) has it had much of an impact there.
Prices rising drastically / item sizes reduced?
Do you think there is any chance they will decouple from the almighty (not so much allmighty anymore) DOLLAR?
As side notes, will inflation also cause OIL to be decoupled from the dollar? What will be the reserve currency in the future? CRYPTO????
What say's ye all.....
Don't believe any crypto will be the next world reserve currency, there's no way in hell any government will accept a reserve currency they have no control over. My guess is after the Dollar falls (in the next decade?) it will be either some SDR from the IMF, the EURO of the RMB. In order of likelihood, at least as I perceive it.
I am trying to move away from money because no matter how this will end, it will end in tears for those with money to spare. Better move into any asset central banks / governments can not print. Avoid going full into crypto. When crypto's take a serious dive the exchanges go down for hours, when shit really hits the fan you will probably have no access to you crypto (instantly, maybe for days). Keep a mix of assets including crypto and some cash. Money in your bank can be gone overnight when governments want, some gold or crisp 100$ notes can't. Also houses or other real estate will survive whatever is ahead of us. You might also consider keeping Swiss Francs or Norwegian Crowns as opposed to EUR and USD. I am seriously considering buying some.
My usual bottled water went up by 500r, although not a big amount its a 12,5% price increase.
I've not noticed much difference with produce I purchase at the local market...
Re: Inflation in Cambodia.
A good question to add, has anyone noticed how the Cambodians are managing? Apart form the tourist trade being well affected in this pandemic, how would you say people are coping. I must say here in the suburbs of the big city there doesn't seem to be much change that has had an effect on people.
Always "hope" but never "expect".
- newkidontheblock
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Re: Inflation in Cambodia.
Tailor made shirt, province, $25 last year in the province.
As of yesterday, $80 (cheapest price).
This is not in Phnom Penh.
Missus has been rethinking ordering any more tailored clothes.
As of yesterday, $80 (cheapest price).
This is not in Phnom Penh.
Missus has been rethinking ordering any more tailored clothes.
Re: Inflation in Cambodia.
My upstairs neighbor sells fruit at a market. She said that loads more people (that lost their previous jobs) are selling fruit and the profit margins are allot less.AndyKK wrote:A good question to add, has anyone noticed how the Cambodians are managing? Apart form the tourist trade being well affected in this pandemic, how would you say people are coping. I must say here in the suburbs of the big city there doesn't seem to be much change that has had an effect on people.
She also mentioned that loads of her regular clients buy less fruit, she thinks it's because they burned through their savings and having issues with their income.
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Re: Inflation in Cambodia.
Perhaps, you are merely inquiring, rather than focusing on one of the few negatives in a record-breaking year, in a very very strong economy.Kampuchia Crumbs wrote: ↑Wed Nov 24, 2021 1:50 am Just curious about Inflation in Cambodia. Becoming a concern here in the US, and since the Cambodia currency is tied to the dollar (???) has it had much of an impact there.
Prices rising drastically / item sizes reduced?
Do you think there is any chance they will decouple from the almighty (not so much allmighty anymore) DOLLAR?
As side notes, will inflation also cause OIL to be decoupled from the dollar? What will be the reserve currency in the future? CRYPTO????
What say's ye all.....
While Cambodia is no U.S., there is an increasing number of people with money here - Lamborginis, Bentleys, Rolls and Ferraris, barely get a second look (mind you, the first look last a little longer than usual) - so similarities are there.
This year, supply chains significantly hurt small cap companies, who can't get enough content to put into their products and sell top line.
A very consistent theme during last quarter's (record-breaking) earnings season was, "had they had more supply they could have sold a lot more product."
When we begin to see the supply constraints alleviate, which we're going to begin to see in the Q1 of next year, that will filter through small cap companies who then, can provide for the demand that is there.
As far as negative news is concerned, this is not major, by any means, in fact, it could also be categorised as positive news, because high demand is more important, than low supply. Generally.
Related to the above, and regarding the sharp inflation rise, the labor costs that we've seen increase over the year, are going to stick - that's not something you take back - but we will see transportation costs and logistics fees improve.
This will improve margins for companies, outweighing the labor costs.
Particularly, transportation from overseas. Cambo possibly experiences this moreso than the U.S., relatively-speaking, with everything from (99% of) peanut butter to tech gear, imported. Even, grow-anywhere, veges.
Higher value names will always benefit in a higher inflation economy, in industries like;
Energy and Financials. That is different levels, of the same game, played in different ball-parks.
On the growth companies' side of things, supply chains have to improve, from medical devices, to prices for semiconductors, in Q1 2022.
Adversities don't affect KoW people the same way as they do, for end-is-nigh Westerners - the fall can only be so high here, and is surivable, in fact, they often land on their feet, or it is merely a step down. And they are resilient, not so much as they are resourceful or innovative - albeit, they did turn bars into restaurants to loophole the law - moreso, because they go home and sit it out, while the maniacal powers-that-be sort out their mess.
While 2 dollars a day, is a lot to someone who has zero, a 50% decrease doesn't affect folks here, as there.
Looking forward, it would seem we're in for a rosy 2022, after a post pandemic boom this last year, that seems to have been overshadowed by most by travel restrictions and higher inflation.
In my response to the negative replies, I will discuss low interest rates, so that heads-up should help you not lose the debate by too big of a margin.
Scent from Dan's Durians & Perfumierie
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