Business

According to the Consumer Price Index (CPI),

the consumer price index (CPI) was 161.33 in January 2020, an increase of 9.09 percent from the same time last year. In January 2020, the CPI was 161.33.

Based on the 2012 base year, the food group’s national consumer price index was 172.69 in January 2020; It was 144.97 for non-food groups and 161.33 for all groups, representing a 9.09 percent increase in consumer prices compared to January 2019.

The significant increase in the prices of goods in all groups collected for consumer price calculations compared to the same period last year was the cause of the increase in consumer prices.

From June 2018 to January 2020, the basic year 2012, the national consumer price index increased from 141.13 in July 2018 to 148.95 in November 2018, according to the Central Statistics Office.

The weakening of the Myanmar kyat’s exchange rate with the US dollar in December 2018 resulted in lower commodity prices; The new rice season causes prices to drop; Consumer prices have decreased slightly as a result of lower vegetable and commodity prices during the winter.

According to the Central Statistics Office, consumer prices have rebounded as a result of rising prices for fish, eggs, and gold, which continued to rise until January 2020. However, foreign exchange rates continued to fall in January 2019.

In the states and regions, consumer prices increased in January 2020. In comparison to the previous month, Yangon Region is increasing in Shan State and Yangon and decreasing in the other regions and states in the three cities (Yangon, Mandalay, and Nay Pyi Taw). The annual change rate was lowest in Kachin State, at 4.49 percent, and highest in Mandalay, at 15.63 percent.

In order to adjust consumer price inflation and inflation throughout the nation, the Central Statistical Organization conducted a household income and consumption survey of 32,669 sample households in 82 townships in November 2012.

There are 438 different kinds of consumer goods and services, according to the basic year survey from 2012. The Central Statistics Office reports that in order to calculate consumer prices, a total of 274 items—108 from the food group and 166 from the non-food group—were selected.

Based on the consumer price index for 2012, the annual rate of inflation for the nation as a whole was 9.09 percent in January 2020, with an average annual rate of 9.06 percent.