YANGON - Myanmar is experiencing 10-15 per cent inflation rates in basic foodstuff as political instability prevails, according to fish and meat wholesalers and basic food retailers.

Basic food items such as rice, cooking oil, meat, vegetables as well as medicines have witnessed price increases, hurting the low income people in particular. Price increased began since Feb 1 following a military takeover. 

“When I went to the market to buy cooking oil, I found that a 1.8-liter bottle of vegetable oil has increased from Ks3,500 to Ks4,500,” said a resident in South Dagon Township, Yangon Region.  

Rice prices largely remain stable but better quality Pawhsan Taungpyan rice rose from over Ks40,000 to around Ks50,000 per bag. Prices of better quality rice have increased by 10 percent to 15 percent.  

“Prices of all quality rice are increasing,” said Cho Cho Thin, a rice trader in Thingangyun Township. 

The price of a 1.8-litre bottle of Mazin brand vegetable oil has increased from Ks3,500 to Ks4,500-4,600. The price of one container of groundnut oil (10 viss) has increased from Ks60,000 to Ks65,000-70,000, according to traders. 

The price of farm chicken has increased from Ks5,000 to around Ks6,000 per viss and that of traditional Bamar chicken from Ks7,000 to Ks10,000. Pork price rose to Ks12,000 per viss up from Ks8,500. 

Vegetable prices are seen to have doubled; while some basic consumer goods and medicines have seen price increases as well.