Inflation drops in Oct

Staff Correspondent | Published: 22:37, Nov 14,2017 | Updated: 23:40, Nov 14,2017

 
 

The point-to-point inflation slightly eased to 6.04 per cent in October from that of 6.12 per cent in September mainly because of declining trend of food price, said planning minister AHM Mustafa Kamal on Tuesday.
He revealed the inflation data partially at a press conference after the ECNEC meeting held at NEC conference at Agargaon in Dhaka.
Bangladesh Bureau of Statistics prepared the inflation data based on information collected from few hundreds of markets across the country.
‘The rate of inflation eased due to decline in prices of rice and winter vegetables following sufficient supply in the market,’ he said.
Inflation rate will drop further in November as the supply of food items including vegetables will increase in the market, he said.
Kamal, however, did not disclose the details of inflation including food and non-food inflation and comparative scenario of inflation in rural and urban areas for the month.
The BBS also did not release the data in its website till Tuesday evening.
The BBS has become irregular in releasing inflation data since March this year when the government’s statistical body decided to release the inflation data on quarterly basis instead of historical practice of releasing the data every month.
The body took the decision being instructed by the planning minister.
Since March, the BBS has usually been releasing the data quarterly.
In some months like July and October, planning minister also revealed the monthly data.
The decision of quarterly publication of inflation data drew criticism from experts and economists. Earlier, they told New Age that the decision might have been taken to avoid unfavourable data.
Policy makers and bureaucrats may exploit the decision by not releasing the data when the prices of essential will go up, they said.

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