Average inflation rises in FY18

Staff Correspondent | Published: 23:00, Jul 03,2018

 
 

A file photo shows a customer checking fish at a shop at Plassey Bazar in Dhaka. Average annual inflation increased by 0.44 percentage points in the just concluded financial year 2017-2018 compared with that of previous FY 2016-2017, according to data of Bangladesh Bureau of Statistics. — Focus Bangla photo

Average annual inflation increased by 0.44 percentage points in the just concluded financial year 2017-2018 compared with that of previous FY 2016-2017, according to data of Bangladesh Bureau of Statistics.
Average general inflation between July, 2017 and June, 2018 stood at 5.78 per cent against 5.44 per cent in the corresponding period of the previous year, showed the data released on Tuesday.
The rate of annual average inflation also remained higher than the government’s target of 5.5 per cent in the FY 2018.
Planning minister AHM Mustafa Kamal revealed the data at a press conference after the weekly ECNEC meeting held at the NEC auditorium at Agargaon in Dhaka.
The point-to-point inflation, however, declined to 5.54 per cent in June, the last month of the FY18, from that of 5.57 per cent in May due mainly to a fall in food inflation despite significant rise in non-food inflation in the month.
Food inflation dropped to 5.98 per cent in June from that of 6.56 per cent a month ago, the data showed.
Non-food inflation, however, increased to 4.87 per cent in the month from 4.08 per cent in May.
Kamal said that it was a positive sign that inflation had been easing over the last six months due to lower prices of sugar, pulse and oil on international market despite fluctuation in the price of rice on domestic market.
He said that it would help the country to contain inflation due to bumper production of rice and sufficient public stocks.
According to BBS data, the prices of food items like fish, meat, vegetables, spices and fruits, and expenditures for some non-food items like clothes, house rent, electricity, medical and transport services and education materials increased in June.
Both general and food inflation dropped in the urban areas in June from the previous month while non-food inflation significantly increased in the month, according to the data.

On the other hand, general inflation remained unchanged and food inflation dropped while non-food inflation increased significantly in the rural areas in the month.
In June, general inflation, food and non-food inflation in the urban areas stood at 6.39 per cent, 7.63 per cent and 5.03 per cent respectively which was 6.48 per cent, 8.69 per cent and 4.08 per cent respectively in the previous month.
Overall, food and non-food inflation in rural areas stood at 5.07 per cent, 5.25 per cent and 4.76 per cent respectively in June.
In May, the rate of general, food and non-food inflation in rural areas was 5.07 per cent, 5.62 per cent and 4.07 per cent respectively.

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