Inflation rate in Myanmar's ethnic areas increases in May

By：Xinhua Update：2017-06-23

The inflation rate in Myanmar's ethnic areas especially in Rakhine State increased in May by 12.24 percent.

It was followed by 8.94 percent in Kachin State and 8.12 percent in Shan state during the month, official media reported Friday.

Based on the monthly consumer price index (CPI) of May by the Central Statistical Organization (CSO), annual inflation rate is 5.96 percent while it was 6.41 percent in April.

The CSO conducted the Survey on the Household Income and Expenditure in 82 townships in November 2012.

In accordance with the statistics from the Budget Department, Myanmar's inflation rate is expected to reach 7.9 percent in the current 2017-2018 fiscal year as the inflation rate in the first five-year National Development Plan (from FY 2011-2012 to FY 2015-2016) has increased.

Authorities are exerting efforts to reduce the inflation rate especially in various fiscal, monetary, trade and foreign currency control policies mentioned in the second five-year plan.