Inflation rate in March 2017 declines a bit

April 25, 2017

The inflation rate as of March 2017 showed a slight decrease of 6.81 per cent when compared to that of February 2017, according to an announcement released by the Central Statistical Organization (CSO) under the Ministry of Planning and Finance.

The inflation rate based on Consumer Price Index (CPI) as of Feb 2017 was 6.97 per cent. The year-on-year inflation rate was 7 per cent in March 2017 versus March 2016.

During March 2017, Rakhine State recorded the highest inflation rate at 13.64 per cent, followed by Kaya State at 9.54 per cent and Yangon at 9.30 per cent, according to an announcement of the CSO.

Previously, the inflation rate was evaluated based on a 2006 survey and then, the base year turned to a 2012 survey. The Central Statistical Organization conducted a Household Income and Expenditure Survey in 82 townships in Nov 2012. The inflation rate in the first five-year plan from 2011-2012 FY to 2015-2016 FY rose. To reduce the inflation rate, the authorities concerned are making efforts in the second five-year plan based on the policies of finance, currency, trade and foreign currency control, according to the second five-year National Development plan.

Ref; The Global New Light of Myanmar