Inflation in the country is due to import restrictions, PM

Dec 13, 2020

The inflation in the country rose to 7.4 per cent in August compared to 3.3 per cent in March this year. The Prime Minister while presenting the State of the Nation report said the rise in the price of the commodities in the market is mainly due to restriction in imports of goods.

As per the report, inflation rose by 4.1 per cent in August this year. The rise in inflation rate means the prices of commodities are rising at a faster rate.

The report states that inflation was contributed largely to the rise in the price of food and non-alcoholic beverages. According to Prime Minister Dr Lotay Tshering, the rise in the cost of vegetables is because of the import restrictions.

“If not for the COVID-19 pandemic, our inflation rate would have been around 1 to 2 per cent. But today, the rate has reached 6 to 7 per cent.  However, I ask you not to worry.  The rise in price in commodities is because we are not importing at the moment. if we start importing, the vegetable prices will decrease in one week,” said Lyonchhen.

The Prime Minister said reduction on imports help the country realize self-reliance and it is one of the ways to keep COVID-19 at bay.

Sangay Chezom