Myanmar’s inflation rate accelerated to 28.23% as of September 2023, up from 18.22% a year earlier. The country’s GDP grew by 3.3% during the same period. Total reserves were sufficient for 10.2 months of imports, while FX reserves held by the monetary authority covered 5.5 months of imports. The kyat depreciated by 16% in that period due to the appreciation of the USD driven by higher US interest rates.