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21 August, 2019 12:41:32 AM
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July inflation slightly increases

STAFF REPORTER, Dhaka
July inflation slightly increases
Food inflation increases to 5.42 per cent in July due to flood and Eid-ul-Azha. FOCUS BANGLA PHOTO

The inflation rate in Bangladesh has increased slightly in July and the planning ministry has put the blame on the rise in food, vegetables, non-food and gas prices.

 The rate of inflation of food items has increased to 5.42 per cent from 5.40 per cent due to the recent floods and Eid-ul-Azha. The inflation rate of non-food items have increased to 5.94 per cent which was 5.71 per cent in June.

People of the country have purchased huge quantities of additional goods, cloths and other materials on the occasion of Eid. Besides, the recent floods have damaged vegetables and other crops.

Rising gas price is also one of the major reasons for the increase in inflation.

Planning minister MA Mannan said this while talking to reporters after the Executive Committee of the National Economic Council (ECNEC) meeting at the planning ministry yesterday.

“The major causes for increasing the rate of country’s inflation are recent floods that damaged the vegetables fields, people’s additional demand on the occasion of Eid and rising gas prices,” the planning minister said.

Mannan said there were problems in the supply chain that also triggered hike in inflation.

“The inflation rate was 5.42 per cent in July, while it was 5.40 per cent in June. The inflation rate of non-food items was 5.71 per cent in June, but it went up to 5.94 per cent in July,” the planning minister said in reply to a query.

The overall inflation on a point-to-point basis had slightly decreased in July.

Mannan, however, said the inflation rate on a point-to-point basis had increased in rural areas from 5.38 per cent to 5.49 per cent in July.

 During the same period, the inflation on food went up to 5.60 per cent in July, which was 5.58 per cent in June. Besides, non-food inflation increased to 5.27 per cent in July, which was 5.01 per cent in the previous month in rural areas.

The overall inflation on a point-to-point basis slightly increased in urban areas and stood at 5.88 per cent in July, which was 5.78 per cent in June.

Food inflation increased to 5.03 per cent in July, which was 5.01 per cent in June. The inflation on a point-to-point basis slightly decreased from March last year to 5.68 per cent.

Inflation in March was 5.55 per cent, which was 5.47 per cent in February, according to Bangladesh Bureau of Statistics (BBS). In January, inflation was 5.42 per cent.

Food inflation was 5.72 per cent in March against 5.44 per cent in February, according to the BBS.

Non-food inflation dropped last month to 5.29 per cent from 5.51 per cent in February.

EA

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Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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