Bangladesh witnessed a declining trend in inflation in last eight consecutive months as the country’s general inflation rate came down to 5.57 percent in May from 6.04 percent in October last year.
The inflation rate in May was the lowest during last eight months in the current fiscal year. The inflation rate increased to 6.12 percent in September, the highest rate in this fiscal year, according to the monthly consumer price index (CPI) of Bangladesh Bureau of Statistics (BBS) released today.
The inflation was 6.04 percent in October, 5.91 in November, 5.85 in December, 5.88 in January, 5.72 in February, 5.68 in March, and 5.63percent in April, it said.
The country’s inflation came down slightly to 5.57 percent in May from 5.63 percent in April riding on a decline in food prices.
The food inflation declined in the third quarter of the current fiscal year of 2017-18 on the back of a fall in prices of egg, vegetables, and spices, according to BBS.
The food inflation came down to 6.75 percent in May from 7.03 percent in April. However, the non-food inflation is witnessing rising trend as its rate went up to 4.08 percent in May from 3.49 percent in April.
In rural areas, the point to point general inflation reduced to 5.07 percent in May from 5.59 percent in April.
The food inflation in rural areas came down to 5.62 percent in May from 6.76 percent in April. On the other hand, the non-food inflation went up to 4.07 percent in May from 3.44 percent in April.
Meanwhile, both the food and non-food inflations increased in urban areas.
The BBS data shows that the point to point general inflation increased to 6.48 percent in May from 5.70 percent in April in urban areas.
Food inflation in urban areaswent up to 6.48 percent in May from 5.70 percent in April.
Also, the non-food inflation in urban areas increased to 4.08 percentin May from 3.57 percent in April.
Prices of clothes, fuel, furniture and home appliances, medical services, transport, educational items and house rent rose in May, according to a BBS statement.
The BBS data also shows that the country’s inflation rate is yet to come down to the targeted rate for the current fiscal as the average inflation rate was 5.81 percent during the period from June 2017 to May 2018.
Finance Minister AMA Muhith had set an inflation target of 5.5 percent for the current fiscal year.
The BBS data added thatsector wise (Agriculture, Industry and Service) wage rate increased by 6.62, 6.44 and 6.79 percent respectively in May while it was 6.37, 6.37, and 6.59 percent in April.