Average inflation rate increases for nine consecutive months

Average inflation rate increases for nine consecutive months
A street market in Thingangyun Township. (Photo-Shine Lin Aung)
A street market in Thingangyun Township. (Photo-Shine Lin Aung)
Published 13 August 2019

From April 2018 to June, 2019, the average inflation rate increased by 1.53 per cent to 3.27 per cent, for nine consecutive months of this fiscal year, according to the figures released by the Ministry of Planning and Finance. 

The year-on-year inflation is expected to hit 4.10 per cent and the average inflation rate, 4.81 per cent in 2018-2019 FY. 

From April 2018 to June, 2019, the average inflation rate hit 6.34 per cent in October, 6.66 per cent in November, 6.86 per cent in December, 6.94 per cent in January, 7.07 per cent in February, 7.28 per cent in March, 7.51 per cent in April, 7.82 per cent in May and 8.08 per cent in June. 

Since April, 2018 till June, 2019, the inflation rate saw an increase for 15 consecutive months. The average inflation rate calculated using 2012 as a base year was 8.08 per cent and the year-on-year inflation rate, 9.51 per cent.

In late June, Magway Region topped the list of inflation with 12.31 per cent, followed by Mon State with 10.14 per cent and Mandalay Region with 9.99 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.