CNI News
29 July 2023
Due to skyrocketing commodity prices, the people's livelihood crises have arisen and it can cause psychological damage to the people, said housewives and small-scale business people.
Commodity prices that have risen gradually because of political instabilities that have been arising since 2021 have risen more than before during the past few days.
So, the people are facing an unbalanced situation of income and expenditure, said Daw Than Yaing Sein, a housewife from Sittwe Township, Rakhine State to CNI News.
" The money earned from working can't catch up with rising prices. We are not alone. Everybody is disappointed. We don't want to prices to go up. The poor get into trouble. Thieves and robberies have increased. If the prices go up more than now, it will worsens. Sometimes I feel so confused." she said.
Because of prices going up like that, small-scale business people were also finding it difficult, said Daw Sandar who is doing business of pottery to CNI News.
street vendors selling journals (Photo-CNI)
" Since we heard 20,000 kyat notes will be issued, prices have gone up.I'm so disappointed that I don't want to go on working, but it's impossible to do so. We don't dare to go up our prices because we don't sell foodstuff. We don't know how much we'll have to pay the workers. We pay them 5,000 kyats each day. On the days when they have to work hard, they are paid 7,000 Kyats a day. We want to pay more. But we can't. There are only watercress dish and fried fish paste in their lunch boxes. We are sorry to see them." she said.
Because the livelihood becomes difficult with the commodity prices going up, some people might commit suicides, said U Thet Zaw, an economic analyst to CNI News.
" If there's no way out, anything may happen to a man. Finally, he can even commit suicide." he said.
Since the Central Bank released a statement which said it would issue new 20,000 kyat notes in a limited number, the prices of basic foodstuff, consumer goods, fuel, gold, dollar have gone up, which has adversely affected to the lower class and small-scale business people, said business people.
The price of Paw San Hmwe was 95,000 kyats for a bag (about 105 lb) before, now is over 100,000 kyats and the price of cooking palm oil was 8,400 kyats a viss(3.6 lb) before and now is over 13,000 kyats reportedly.
Relevant governments and departmental officials should effectively take actions against speculators who are performing to raise prices to solve the livelihood crisis, pointed out economic analysts.
