Average inflation rate hits 5.50 pc in August

Writer: 
Min Thiha Zaw

 

The average inflation rate in late August stood at 5.50 per cent, a slight increase compared with 5.02 per cent in late July, according to the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation (CSO).

The average inflation rate has increased for five consecutive months.

In late August, Mandalay topped the list of inflation with 10.41 per cent, followed by Rakhine with 9.46 per cent and Ayeyarwady with 6.75 per cent.

According to the year-on-year inflation rates until August, Rakhine State saw the biggest change with 12.61 per cent while Kayah State saw the least change with 4.86 per cent.

In November, 2012, the Central Statistical Organization conducted a household and consumption survey on 32,669 households in 82 townships nationwide to calculate the CPI and inflation rate.

In the past, the inflation rate was calculated using 2006 as a base year. Now 2012 is used as a base year to calculate inflation rate.

Under the second five-year National Development Plan (from 2016-2017 to 2020-2021 FY), the government has planned to reduce the inflation rates through finance, monetary, trade and foreign currency policies.