The average inflation rate in late May was 7.82 per cent, a slight increase compared with 7.51 per cent in late April, according to the figures released by the Consumer Price Index (CPI) and Inflation Rate by the Central Statistical Organisation (CSO).
The average inflation rate is calculated using 2012 as a base year. The year-on-year inflation rate was 9.57 per cent.
In late May, Magway Region topped the list of inflation with 11.94 per cent, followed by Mon State with 10.28 per cent and Mandalay Region with 10.21 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.
The average inflation rate was 6.94 per cent in January, 7.07 per cent in February, 7.28 per cent in March, 7.51 per cent in April and 7.82 per cent in May.
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.
