August 21, 2016

Inflation rate in July declines slightly

The inflation rate in July shows a small decrease. The rate of inflation as of July was 12.12 per cent, whereas the inflation rate as of June was 12.14 per cent, it is learnt from the Consumer Price Index and inflation rate issued by the Central Statistical Organization under the Ministry of Planning and Finance.
The consumer price index (CPI) in July 2016 rose when compared to a similar period last year.  The consumer price index in July is 224.68 points whereas the figure was 204.37 index points last year. The inflation rate based on CPI as of July 2016 was 12.12 per cent whereas the rate as of June,2016 was 12.14 per cent. The inflation rate from July 2015 to July 2016 was 9.94 per cent.
Chin State had the highest inflation in July with a rate of 29.60 per cent, followed by Kaya State with 21.33 per cent and Rakhine State with 21.32 per cent.
The highest rate of inflation in Hakha, Chin State in July stands at 31.86 per cent. The average inflation rate in Loikaw, Kaya State was 21.78 per cent whereas that in Sittwe, Rakhine State was 21.12 per cent, it is learnt.
Myanmar’s inflation rate is expected to reach 11.68 per cent this fiscal year, it is learnt from the statistics of the Budget Department. The inflation rate in first five-year plan from 2011-2012 FY to 2015-2016 FY rose.
To reduce the inflation rate, authorities are making an effort in the second five-year plan using the policies of finance, currency, trade and foreign currency control, according to the second five-year National Development plan. —GNLM


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