Average inflation rate continues to rise

Source : Daily Eleven
View Count : 73
Nov 26, 2019

The average inflation rate increased by over six to eight per cent for 12 consecutive months in 2018-19 fiscal year, according to figures from the Ministry of Planning and Finance.

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, 8.08 per cent in June, 8.35 per cent in July, 8.53 per cent in August, 8.61 per cent in September, 2019.

From April, 2018 to September, 2019, the inflation rate increased for 18 consecutive months. The year-on-year inflation rate was projected to hit 4.10 per cent and the average inflation rate, 4.81 per cent in 2018-19 FY.

The average inflation rate in late August was 8.53 per cent and 8.61 per cent in late September. According to the calculation using 2012 as a base year, the year-on-year inflation rate was 9.51 per cent, and the average inflation rate, 8.61 per cent, until September, 2019.

In late September, Magway Region topped the list of inflation with 12.62 per cent, followed by Sagaing Region with 11.26 per cent and Mandalay Region with 10.14 per cent. Ayeyawady Region saw the biggest change with 14.66 per cent while Kachin State saw the least change with 2.49 per cent, according to the Central Statistical Organisation (CSO).

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. September saw the highest inflation rate with 8.61 per cent.

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