Inflation highest in Rakhine, Kachin and Shan states

Min Thiha Zaw

Rakhine, Kachin and Shan saw the highest inflation rates in October, according to a report by the Central Statistical Organization.

As of the end of October, the inflation rate was 9 per cent in Rakhine State, 7.90 per cent in Kachin State and 5.73 per cent in Shan State.

That compares with 5.26 per cent in Mon, 4.95 per cent in Tanintharyi, 4.74 per cent in Kayah, 4.64 per cent in Mandalay, 4.49 per cent in Bago, 4.36 per cent in Kayin, 4.06 per cent in Magway, 4.09 per cent in Sagaing, 3.33 in Yangon, 2.30 per cent in the Union Territory and 2.04 per cent in Chin.

In October, the average monthly inflation in Yangon was 4.60 per cent, 5.33 per cent in Mandalay and 2.57 per cent in Nay Pyi Taw. The average inflation rate for October was 4.70 per cent.

According to the 2nd five-year National Development Plan (2016-2017 to 2020-2021 FY), the government would make efforts to reduce the inflation rate based on financial, monetary, trade and foreign currency control policies.

According to the calculation of inflation rate using 2006 as a base year, the average annual inflation rate was 2.82 per cent in 2011-2012 FY, 2.85 per cent in 2012-2013 FY, 5.72 per cent in 2013-2014 FY and 5.90 per cent in 2014-2015 FY.

The average inflation rate for 2017-2018 FY is expected to hit 7.9 per cent.