The annual rate of inflation in Myanmar as of August, based on the Consumer Price Index, reached a high of 8.53 per cent, according to a report released by the Central Statistical Organization under the Ministry of Planning and Finance, state media reported.

The average inflation rate for the 2018-2019 FY was 4.81 per cent, according to the Ministry of Planning and Finance. However, the inflation rate in August is up 3.72 per cent, compared with the expected rate.

The value of the Myanmar Kyat against the US dollar remained on the high side in August. Despite a slight decrease in fuel oil prices, the commodity price rose slightly.