Inflation plays an important role in assessing the economic condition of a country. The average inflation and consumer price index (CPI) have been on the rise for 18 consecutive months. That point has an impact on the daily lives of the public. The Weekly Eleven picks it as a significant one of the year 2019.
From April 2018 to September 2019, the average inflation rate increased for 18 consecutive months. In 2018-19 FY, the year-on-year inflation was expected to hit 4.10 percent and the average inflation rate, 4.81 per cent.
Till October 2019, the average inflation rate was 8.60 per cent and the year-on-year inflation, 8.72 per cent.
In October, Magway Region topped the list of inflation with 12.40 per cent, followed by Sagaing Region with 11.53 per cent and Mandalay Region with 10.10 per cent. Ayeyawady Region saw the biggest change with 15.13 per cent while Kachin State, the least change with 1.90 per cent, according to the Central Statistical Organization.
Compared with the figures in October, 2018, the food group increased by around 7.97 per cent, tobacco and beverage, 7.91 per cent, the cloth group, 4.77 per cent, house rental and repairing, 30.81 per cent, household utensil prices and maintenance costs, 6.63 per cent, health, 8.21 per cent, recreation and culture, 12.27 per cent, education, 4.08 per cent, other food group, 5.42 per cent, general good groups, 10.71 per cent and non-food group, 10.04 per cent, in October, 2019.
But the transport sector declined by 2.35 per cent and the communication sector, 0.60 per cent in October 2019.
According to the calculations using 2012 as the base year, the CPI for the food group hit 173.39 per cent, the non-food group, 142.56 per cent and all groups, 160.58 per cent in October 2019.
Consumer Price Index (CPI) in late October reached 160.58 per cent, up 8.72 per cent compared with the same period last year, according to the report on the CPI and inflation rate issued by the Central Statistical Organization (CSO).
The country needs to lay down the practical policies which can reduce the rising inflation and CPI rates.
