Inflation rate hits lowest point in over a year

The annual rate of inflation in Myanmar, based on the Consumer Price Index (CPI), continued dropping to 5.8 per cent in September 2020 owing to demand slump triggered by COVID-19, according to a report released by the Central Statistical Organization under the Ministry of Planning, Finance and Industry and reported in the media.

The inflation rate has remained above 8 per cent from June 2019 to June 2020, reaching its peak of 9.2 per cent in February 2020 on the back of gains in local currency and a power tariff hike. From there, it started to gradually slow down due to the coronavirus outbreak in March, reaching its lowest point in over a year this September.

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