Inflation edges down in August
Minister says people spent less after Eid-ul-Azha, supply chain was normal
Inflation declined 13 basis points to 5.49 percent in August, helped by the downward movement of both food and non-food prices.
Last month’s rate also bucked the rising trend as inflation had risen 10 basis points to 5.62 percent in the first month of the current fiscal year.
Planning Minister MA Mannan released the monthly consumer price index report of the Bangladesh Bureau of Statistics at National Economic Council in Dhaka yesterday.
He said it was happy news that inflation did not go up in August.
People did not spend more money after Eid-ul-Azha and the supply chain was normal as there was usual rain in the month.
Food inflation edged down 15 basis points from 5.62 percent in July to 5.49 percent last month while non-food inflation came down to 5.82 percent, down 12 basis points from 5.94 percent a month ago.
In rural areas inflation dropped to 5.34 percent from 5.48 percent in July. Food and non-food inflation declined to 5.38 percent and 5.25 percent from 5.60 percent and 5.27 percent respectively in July.
Inflation also fell in urban areas, to 5.75 percent from 5.88 percent. Food and non-food inflation were down to 5.02 percent and 6.60 percent in August from 5.03 percent and 6.84 percent respectively a month ago.
The government has targeted a 5.5 percent inflation rate in the current fiscal year. It was able to contain it at 5.48 percent last fiscal year, comfortably below the target of 5.6 percent.