Loading...

Inflation up in May

FE Report | Published: June 19, 2019 11:41:20 | Updated: June 26, 2019 10:37:06


Picture used for illustrative purpose only

The point-to-point inflation in the month of May last was recorded higher than that of the previous month, according to official data.

It was 5.63 per cent in May compared to 5.58 per cent in April, according to the of the Bangladesh Bureau of Statistics (BBS) data published on Tuesday.

According to BBS, inflation rate dropped to 5.35 per cent last December, but it started rising from the month of January.

It was recorded lower at 5.57 per cent in May last year.

After the routine meeting of the Executive Committee of the National Economic Council, planning minister MA Mannan said inflation is up due to hike in prices of some non-food items.

The BBS showed non-food inflation in May increased by 0.20 percentage point to 5.84 per cent from that of 5.64 per cent in the previous month.

However, food inflation dropped slightly in the last month as it was recorded at 5.49 per cent in May from that of 5.54 per cent in the previous month.

According to the BBS data, the rate of point-to-point inflation in both rural and urban areas recorded rise in May.

In rural areas, inflation in May was recorded at 5.44 per cent compared to 5.41 per cent in April.

Food inflation in villages dropped very marginally to 5.67 per cent in May. It was recorded at 5.68 per cent in April.

Last month, non-food inflation in rural areas, however, increased to 5.01 per cent from 4.89 per cent in April.

In urban areas, inflation on a point-to-point basis also showed a higher trend to 5.96 per cent in May from 5.89 per cent in April.

Food inflation in cities dropped to 5.09 per cent in May from April's 5.22 per cent.

Non-food inflation in urban areas, however, increased to 6.95 per cent in May from 6.66 per cent in April.

The government in the outgoing fiscal year, 2018-19, set a target to limit inflation to 5.56 per cent.

kabirhumayan10@gmail.com

Share if you like