Myanmar coup: fears of economic crisis loom as food and fuel prices soar
World Food Programme says people already reeling from pandemic are facing double-digit price increases in staple foods
The UN World Food Programme has warned of a “very serious” economic crisis in Myanmar in the wake of last month’s coup, with food and fuel prices rising amid the political turmoil.
The retail price of palm oil had risen 20% since the start of February around the main city Yangon, said the World Food Programme (WFP), while rice prices there and in Mandalay had gone up 4% in the past three weeks alone.
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