Inflation edges up slightly

United News of Bangladesh | Published: 20:10, Oct 04,2016 | Updated: 21:16, Oct 04,2016

 
 
Grocery shop Dhaka

A grocery at Karwan Bazar. – New Age file photo

The general point-to-point inflation rate in the country increased slightly to 5.53 per cent in September, fueled by the uptrend in food inflation due to the Eid ul Azha festival.

‘The general point-to-point inflation rate increased slightly to 5.53 per cent in September,’ disclosed Planning minister AHM Mustafa Kamal on Tuesday, while releasing the monthly consumer price index after the day's ECNEC meeting.

General point-to-point inflation, that is the percentage change in the CPI over a 12-month period, in August was 5.37 per cent, in July was 5.40 per cent, in May was 5.45 per cent, in April was 5.61 per cent, 5.65 per cent in March and 5.62 per cent in February.

According to data from the Bangladesh Bureau of Statistics, point-to-point food inflation increased to 5.1 per cent in September from 4.3 per cent in August.

The Planning Minister said the inflation rate in the previous month increased a bit due to Eid-ul-Azha, hoping that the general point to point inflation rate would be within the fiscal target this year.

According to the BBS, the average general point to point inflation rate in the last fiscal year was 5.92 per cent, which was 6.41 per cent in fiscal year 2014-15, 7.35 per cent in fiscal year 2013-14, 6.78 per cent in fiscal year 2012-13.

The BBS data showed that the point-to-point non-food inflation rate, however, slightly declined to 6.19 per cent in September 2016, down from 7 per cent in August, 2016.

Besides, the general inflation rate at the urban level in September increased to 7.21 per cent while it was 4.63 per cent at the rural level.

At the rural level, the food inflation increased to 4.27 per cent in September, up from 3.40 per cent in the previous month, while the non-food inflation declined to 5.31 per cent in September as against 6.28 per cent in August this year.

In urban areas, the food inflation also increased to 7.03 per cent in September, up from 6.39 per cent in August. The non-food inflation rate, however, witnessed declining trend with 7.42 per cent in September which was 7.99 per cent in August this year.

The national wage index witnessed an increasing trend with 6.09 per cent in September up from 6.06 per cent in August.

The average year- to-year rate of inflation from October 2015 to September 2016 also declined to 5.71 per cent, which was 6.25 per cent from October 2014 to September 2015.

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