Monday, September 26, 2022
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HomeLIfestyleThe military junta's cheap strategy of containing the rising cost of living...

The military junta’s cheap strategy of containing the rising cost of living exposes in Myanmar

(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.

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.

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