Inflation in Bangladesh rises to 10-year high
Dhaka: Inflation in Bangladesh accelerated to 9.52 percent in August, the highest in 10 years, mainly due to higher food prices, according to official data.
In addition, the country’s headline inflation eased slightly to 9.10 percent in September, Xinhua news agency quoted Planning Minister MA Mannan as saying.
Data released by the Bangladesh Bureau of Statistics (BBS) showed food inflation jumped to 9.94 percent in August, the highest since April 2012, and eased slightly to 9.08 percent in September. .
However, non-food inflation increased to 9.13% in September from 8.85% in August.
Due to higher food prices amid uncertainty stemming from the Russo-Ukraine war, Mannan said inflation has been on an upward trend for the past few months in Bangladesh.
He stressed the need to increase food production in the country to curb rising food prices.
However, Manon expressed satisfaction with the CPI downgrade in September, saying it was good news for the government as it tried to contain inflation in line with the budget target.
In June, the country presented a record national budget of nearly 7 trillion taka ($70 billion) for the 2022-23 fiscal year starting in July, and the government said it was committed to curbing the rising inflation trend by addressing the discrepancies between supply and demand.
According to the budget proposal, Bangladesh aims for an average inflation rate of 5.6 percent in the new fiscal year.