Inflation drops to 5.57pc in July

Staff Correspondent | Published: 22:02, Aug 09,2017 | Updated: 00:32, Aug 10,2017

 
 

A file photo shows customers buying vegetables at a kitchen market in Dhaka in July. — Focusbangla photo

The country’s point-to-point inflation dropped by 0.37 percentage points to 5.57 per cent in July from that of 5.94 per cent in June driven by declining trend in both food and non-food inflation in the month.
Food inflation decreased to 6.95 per cent in July from 7.51 per cent a month back while non-food inflation stood at 3.53 per cent in the month from 3.67 per cent in June, according to the data of the Bangladesh Bureau of Statistics.
Planning minister AHM Mustafa Kamal on Wednesday released the inflation data at the post-ECNEC press briefing held at NEC auditorium at Agargaon in Dhaka.
The BBS released the monthly inflation data for the first time since March when the statistical wing of the planning ministry stopped releasing the data and introduced quarterly inflation data which drew severe criticism from economists and researchers.
Kamal said that only price of rice increased in global market in recent months while the prices of two other major imported consumer items—edible oil and sugar—are falling. The prices of these three consumer items increased in international market in May.
Hopefully, the increased price of rice will not put any negative impact on inflation in coming months as the government is distributing rice among the poor people in village areas, he said, adding that the prices of the products may also decrease further in coming months.
According to the BBS data, overall, food and non-food inflation in both urban and rural areas decreased significantly in July from the previous month.
In July, the point-to-point inflation in both urban and rural areas stood at 5.86 per cent and 5.41 per cent respectively which was 6.49 per cent and 5.65 per cent respectively in June.
In urban areas, food inflation dropped to 7.15 per cent in July from that of 8.21 per cent a month ago.
Food inflation in rural areas stood at 6.86 per cent in the month decreasing from 7.20 per cent in June, the data showed.
Prices of food items like meat, fish, vegetables, fruits, spices, milk and milk products and expenditure for non-food items like energy and electricity, house rent, medical service and transport increased in July, it said.
The BBS data showed that the point-to-point inflation increased in July compared with that of July of the last year when inflation rate was 5.40 per cent.
The BBS registered overall inflation at 5.72 per cent in April 2017-June 2017 quarter. 

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