The annual inflation rate in Myanmar which based on the Consumer Price Index rises to 9.2 percent in February 2020

The annual rate of inflation in Myanmar, based on the Consumer Price Index, stood at 9.2 per cent in February 2020, according to a report released by the Central Statistical Organization under the Ministry of Planning and Finance.
The figure has remained above 8 per cent since June 2019. The inflation rate stood at 7.28 per cent in March 2019 and gradually inclined. It reached a peak of 8.61 per cent in September and dipped in November. It touched the highest level at 8.81 per cent in December 2019 because of the high season.
Afterwards, despite the drop in fuel oil price and gain in local currency, power tariff hike led to higher inflation rate up to 9.2 per cent in February 2020.
The inflation rate was registered at 9.06 per cent in January 2020, and so, the month February witnessed a small rise of 0.14 per cent against January’s rate. The core inflation, which strips out volatile food and energy prices, was 11.15 per cent in February.
The Myanmar Kyat gained against the US dollar in February. The price of imported oil dropped, causing food price to slightly decrease.
Nevertheless, there was a remarkable increase in CPI in the household goods and maintenance, transportation, other commodities, clothing, health, education services, recreation, culture, non-food and tobacco and beverages groups. The price of telecommunications stays flat.
In February, Ayeyawady Region recorded the highest inflation rate at 12.65 per cent, followed by Magway Region at 11.89 per cent, and Sagaing Region at 11.82 per cent. The rate fluctuated with a maximum rate of 14.19 per cent in Ayeyawady Region and a minimum rate of 4.46 per cent in Chin State.
Earlier, the inflation rate was calculated based on a 2006 survey. The base year was later changed to 2012. The Central Statistical Organization conducted a Household Income and Expenditure Survey in 82 townships in November 2012. To reduce the inflation rate, the concerned authorities have been making efforts based on policies on finance, currency, trade, and foreign currency control, in keeping with the second five-year National Development Plan (2016-2017FY-2020-2021FY). — Htet Myat (Translated by Ei Myat Mon)

(The Global New Light of Myanmar: https://www.globalnewlightofmyanmar.com/annual-inflation-rate-rises-to-9-2-per-cent-in-february/ )

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