Inflation rate on goods rises

03 June 2019
Inflation rate on goods rises
Customers shop for food products at the City Mart supermarket in Yangon. Photo: Lynn Bo Bo/EPA

The annual rate of inflation in Myanmar, based on the Consumer Price Index (CPI), reached 7.51 per cent in March, up from 7.28 per cent in April, according to a report released recently by the Central Statistical Organization (CSO), under the Ministry of Planning and Finance.

In April, imported goods such as fuel oil rose although there was no remarkable change in forex market. With global gold price sliding, domestic gold price declined. As April is the month of Myanmar New Year, Myanmar people made donation and charitable events and most of them travelled either. Transportation costs surged from soaring fuel oil prices, thereby hiking up commodity prices.

There was a remarkable increase in CPI in the food group, non-food group, household goods and maintenance group, transportation group, other commodities group, clothing, health, education services, recreation and culture, except telecommunications and tobacco and beverages group.