CPI hits 147.75 pc in late December

CPI hits 147.75 pc in late December
A roadside food stalls in Pazundaung Township in Yangon. (Photo-Kyi Naing)
A roadside food stalls in Pazundaung Township in Yangon. (Photo-Kyi Naing)
Published 23 January 2019

Consumer Price Index (CPI) in December reached 147.75 per cent, up 6.85 per cent compared with the same period last year, according to the report on CPI and inflation rate issued by the Central Statistical Organization (CSO) from the Ministry of Planning and Finance.

According to calculations using 2012 as the base year, the CPI for the food group hit 161.50 per cent and the non-food group, 128.41 per cent in late  December.

The commodity prices included CPI and inflation report showed significant increase. According to the same calculation, the CPI hit 139.34 per cent in January, 2018, 139.51 per cent in late February, 139.11 per cent in late March, 139.82 per cent in late April and 141.13 per cent in late June.

Since late April, 2018, the commodity prices  increased due to heavy rains and natural disasters. Yangon, Ayeyawady and Taninthayi saw a slight increase in the CPI while the CPI rates in other regions and states declined.

In November, 2012, the CSO conducted a household income and consumption survey on 32,669 households in 82 townships across the country. The survey covered 438 goods and services. For the calculation of CPI, the CSO took samples from 274 items—108 for the food group and 166 for the non-food group.

In December, 2018, the average inflation rate was 6.86 per cent and the year-on-year inflation, 6.85 per cent.