• Wednesday, November 26, 2014

Inflation eases a bit

Star Business Report

Inflation eased 0.13 percentage point to 6.91 percent in August compared to the previous month due mainly to a fall in food prices in the international markets.

Food inflation also came down, to 7.67 percent, at the end of last month from 7.94 percent in July, according to Bangladesh Bureau of Statistics data released yesterday.

The non-food inflation rate, however, rose to 5.76 percent in August from 5.71 percent in the previous month.

Releasing the data, Planning Minister AHM Mustafa Kamal said prices of edible oil, sugar and onion, which are the major imported food items, declined in the global markets.

Also, prices of the locally-grown food items, except for vegetables, did not rise during the period, he said at a press conference at his office.

“Our target is to keep the inflation rate at around 6.5 percent at the end of the year,” the minister said.

Kamal, however, said if the ongoing floods linger, the inflation rate might not come down. “The flood situation so far is usual and this level of floods boosts agricultural production as lands are silted by flood water,” he said.

A further decline in the inflation rate also depends on stability in food and non-food prices in the global markets, he added.

Published: 12:00 am Friday, September 05, 2014

TAGS: Bangladesh Bureau of Statistics planning minister AHM Mustafa Kamal food inflation Inflation eased fall in food prices international markets

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