Myanmar's public struggles with inflation as currency tumbles

Local demand for dollars drives kyat lower as draft-age youths flee country

20240508N Myanmar 1

A woman sells food at a market in Yangon, Myanmar. Food prices have soared by more than 50% over the past year. (Photo by Nikkei)

Nikkei staff writers

BANGKOK/YANGON -- Myanmar has been fighting a losing battle to stabilize its currency, despite employing a wide range of tools, and ordinary people are paying for it in the form of runaway inflation.

A 31-year-old hotel worker in the Southeast Asian nation's economic capital of Yangon is nearing her breaking point in dealing with higher prices.

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