The average inflation rate hit 8.53 per cent in late August, a slight increase compared with 8.35 per cent in late, according to the Central Statistical Organization (CSO).
Till August 2019 since April 2018, the average inflation increased for 17 consecutive months. The year-on-year inflation rate is 10.37 per cent.
In late August, Magway Region saw the highest inflation rate of 12.57 per cent, followed by Sigaing Region with 10.66 per cent and Chin with 10.07 per cent.
Sagaing Region saw the biggest change in the average inflation rate with 15.70 per cent while Kachin State saw the least change with 2.59 per cent, according to the CSO.
In November, 2012, the CSO conducted a household and consumption survey on 32,669 households in 82 townships nationwide to calculate the Consumer Price Index (CPI) and the 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.
