Inflation eases to 5.51pc in July

Staff Correspondent | Published at 10:16pm on August 07, 2018

Point-to-point inflation in the country eased to 5.51 per cent in July from that of 5.54 per cent in June due mainly to a decline in non-food inflation in the month.
Non-food inflation dropped to 4.49 per cent in July from that of 4.87 per cent in the previous month, according to the Bangladesh Bureau of Statistics data.
Food inflation, however, increased by 0.20 percentage points to 6.18 per cent in July from that of 5.98 per cent in the previous month, the data showed.
Planning minister AHM Mustafa Kamal on Tuesday released the inflation data at a briefing after an executive committee of the National Economic Council meeting held at NEC auditorium at Agargaon in Dhaka.
Kamal attributed the decline in inflation to the equilibrium between supply of and demand for essential commodities at the domestic market and stable prices of imported goods at the international market.
He said that even depreciation of Bangladeshi currency taka could not affect inflation due to stability of prices of imported goods at the international market.
He also expressed hope that the prices of onions and spices would not rise ahead of Eid-ul-Azha, one of biggest religious festivals of the Muslims.
According to the BBS data, overall inflation and non-food inflation in both urban and rural areas significantly decreased while food inflation increased in both the areas in July from the previous month.
In July, point-to-point inflation and non-food inflation stood at 6.37 per cent and 4.50 per cent respectively in urban areas, decreasing from 6.39 per cent and 5.03 per cent respectively in June.
Food inflation increased to 8.08 per cent in urban areas in July from that of 7.63 per cent a month back.
In rural areas, point-to-point inflation and non-food inflation dropped to 5.04 per cent and 4.49 per cent respectively in the month, which were 5.07 per cent and 4.76 per cent respectively in June.
Food inflation in rural areas increased to 5.34 per cent in July from 5.25 per cent from the previous month, the data showed.
Prices of food items like rice, meat, fish, egg, spices and fruits and expenditure for non-food items like clothes, house rent, electricity, medical service, transport, education materials increased in July, it said.
The BBS data showed that the point-to-point inflation also declined in July this year compared with that of July last year when the inflation rate was 5.57 per cent.