The impact of skyrocketing food and consumer goods prices is severely affecting the public in Myanmar

Myanmar Spring Chronicle – October 24 Scene
(MoeMaKa) October 25, 2024

The impact of skyrocketing food and consumer goods prices is severely affecting the public in Myanmar

For most people living in the country, conflict-related dangers, such as life-threatening risks from the ongoing war, are among the greatest challenges. The next major threat involves the risk of arrest and torture, followed by the potential for loss of property and personal belongings. Although struggling daily to survive might not be classified as a direct danger, the extreme difficulty of maintaining a basic livelihood has steadily increased under the conditions of war.

 

In Yangon, a non-blockaded region, skyrocketing prices are observed even for essentials: a single bundle of spinach now costs 700 kyats, a small sack of rice is at least 6,000 kyats, and a liter of cooking oil ranges from 7,000 to over 10,000 kyats. Daily life has become more challenging as a result. Even in conflict-free cities like Yangon, Mandalay, Naypyitaw, Pathein, and Bago, residents face these soaring prices, although their situation may be comparatively better than residents of conflict-heavy regions, such as northern Shan State, Kachin State, Rakhine, Karenni State, and parts of Sagaing Region.

In more severely impacted areas, people face prices two to five times higher than in these main cities. In Myitkyina, the capital of Kachin State, the costs of vegetables, rice, and fuel have reached unprecedented levels, while in restricted areas like Rakhine State, people face even higher prices.

When asked about the reasons for price hikes in basic goods, such as food and fuel, the primary reason is the devaluation of the kyat. Secondly, there are numerous security checkpoints and tolls that add fees along transportation routes. Third, many key roads previously used are now closed due to military occupation, forcing goods to be transported over longer, more dangerous routes, which increases prices. Additionally, efforts to cut off supplies for armed groups by restricting their access to resources has also driven up prices. Recently, China restricted cross-border trade, blocking exports of rice, food, electricity, and fuel into Myanmar, further exacerbating shortages.

Political and diplomatic pressure having failed, China implemented this measure to prevent resources from reaching armed groups. Together, these barriers, taxes, and production declines have created a situation where, for most citizens, income and means of production are shrinking, making survival even more difficult.

The situation worsened recently with floods in eastern, central, and southeastern Myanmar, causing over 500 fatalities and damage to crops, livestock, homes, and livelihoods. The internal conflict in Myanmar has also led many young people to join armed groups, while others left the country for jobs abroad or were conscripted earlier this year under a new military law, further affecting agriculture, livestock, and production industries.

Myanmar’s current economy can only be compared to that of other war-torn countries, though experts might assess it as one gradually collapsing. Throughout any dark period in history, there are always those who find ways to benefit. Beyond this small group, however, most of Myanmar’s population struggles to survive amidst rising prices, inflation, and widespread loss.

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