Prices skyward in Rakhine State under AA authoritarianism
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Hsu / Thuta Kyaw (NP News) - Sep 5
According to The NP News, prices in Rakhine State, under the control of the ethnocentric armed organization (AA), have soared to unprecedented levels, causing significant hardship for the local population. Even basic necessities like snacks and drinks are now being sold for unreasonable prices, often reaching tens of thousands of kyats.
"Prices are currently very high. Compared to before these political events occurred, prices have tripled. Although goods are being imported from India, it's not easy to see a drop in prices. We can't even predict when prices will fall. The people are suffering as their income has decreased while prices have risen. It's a very difficult situation. In some places, a single can of Shark energy drink costs around 9,000 kyats," a resident of Sittwe told The NP News.
Despite fluctuations in supply and demand, prices in Rakhine State have remained consistently high, indicating a structural issue beyond typical market forces.
"For example, dried chilies that used to cost around 4,000 kyats per viss now cost 45,000 kyats. This is due to the scarcity of goods. If there is an abundance of goods, prices drop to around 10,000 kyats, or 35,000 kyats, but even that is still high. These are prices we never heard of before. Goods are being imported into Rakhine from India and through smuggling routes from the mainland," explained the local resident regarding the situation with prices.
Furthermore, the situation is exacerbated by the expectation that prices will remain elevated, if not increase further, in the foreseeable future.
"The situation is very tight, and prices are skyrocketing. Now, even having a decent meal is considered fortunate. Additionally, some unscrupulous merchants are hiking prices, making things worse. For some goods, no matter how much supply comes in, the prices just won’t go down," said the resident.