Inflation rate hits 4.16 pc in February

Writer: 
Min Thiha Zaw

 

The average inflation rate in late February was 4.16 per cent, with the highest rates reported in Rakhine, Mandalay and Kachin, according to the Central Statistical Organisation.

February saw a slight decline in the inflation rate, compared with 4.40 per cent from January.

Rakhine topped the list of inflation rates with 8.46 per cent, followed by Mandalay with 6.85 per cent; and Kachin with 5.88 per cent.

Until late February, Mandalay saw the highest year-on-year inflation rate with 11.33 per cent and Chin, the lowest inflation rate with 1.29 per cent.

In November, 2012, the CSO conducted a household income and consumption survey on 32,669 households in 82 townships across the country.

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.

Under the second five-year National Comprehensive Development Plan until 2021, the government will make efforts to reduce inflation rates based on fiscal, monetary, trade and foreign currency control policies.