(YANGON): The rising cost of living, the hyperinflation of the Kyat (Myanmar currency), and the soaring price of gold have sent the strife-torn country into deeper uncertainty, with business people predicting a further push towards a total collapse.
The Administration of Yangon region under the military junta has fixed the price of edible oil with Kyats 4,910 for a viss from 29 August to 04 September in Myanmar.
Chindwin learns that the Myanmar Edible Oil Dealers’ Association (MEODA), under the instruction of the military junta, is distributing edible oil – mainly in Yangon city to contain the rising cost of living partly.
People are lining up in a queue to receive a discounted price of edible oil in Yangon city, Myanmar. Photo/Supplied
People are lining up in a queue to receive a discounted price of edible oil in Yangon city, Myanmar. Photo/Supplied
However, even the discounted price has now skyrocketed, reaching up to Kyats 4,910 per viss, which jumped triple from the price two weeks ago.
