Myanmar’s inflation rate rose to 11.39 per cent in the first quarter of the 2021-2022 fiscal year, up 4.56 percent from the fourth quarter of the last fiscal year

Myanmar’s average inflation rate rose to 11.39 per cent in the first quarter of the 2021-2022 fiscal year (January to March 2022), representing a growth of 4.56 per cent from the fourth quarter of last year (October to December 2021), according to a statement of the Central Statistical Organization (CSO) under the Ministry of Planning and Finance.

In the 2020-2021 fiscal year, the average rate of inflation in the first quarter (October to December) was 1.08 per cent. Meanwhile the rate increased to 1.63 percent for the second quarter (January to March 2021). The inflation rate in the third quarter (April to June 2021) rose to 5.02 before increasing to 6.83 per cent in the fourth quarter of the fiscal year (July to September 2021).

Myanmar’s average inflation rate has increased for 18 consecutive months from April 2018 to September 2019. The rate fell slightly during October to November 2019 and rose slightly during December 2019 to February 2020. However, the rate dropped again in consecutive months from March to December 2020. Myanmar’s average inflation rate for
the entire 2020-2021 fiscal year was 6.83 per cent, calculated by using the 2012 consumer price as a base year. The rate increased 1.81 per cent in the fourth quarter compared with 5.02
per cent in the third quarter of the 2020-2021 fiscal year, according to the Central Statistical Organization.

          The average inflation rate for the six months from October 2021 to March 2022 is expected to be 6.67 per cent, estimated by the Citizen’s Budget, Ministry of Planning and Finance. According to the World Bank’s publication, the average inflation rate was 6.4 per cent in 2017 – 2019 and reached 5.2 per cent by the end of 2020 due to the falling energy and food prices. In January 2021 the rate fell to 0.7 per cent but rose to 7.3 per cent in September 2021 due to a surge in food and fuel prices.

The inflation rate excluding food items increased from 0.6 per cent in January 2021 to 9.8 per cent in December 2021 due to the significant increase in transportation costs. However, the World Bank projected that inflation rate will reach 8.7 percent in September 2022, as the food and fuel prices are soaring. 

ที่มา : Eleven Media Burmese on 15 March 2022 (https://news-eleven.com/article/227500)

​