The Financial Express

Inflation inches up in July

| Updated: August 29, 2019 10:43:33

Evaly and Fianancial Express Evaly and Fianancial Express
- Focus Bangla file photo - Focus Bangla file photo

The country's point-to-point inflation was recorded at 5.62 per cent in July, the first month of the current fiscal year (FY), 2019-20, showing a rising trend, according to official data.

In July, the inflation increased by 0.10 percentage points from that of 5.52 per cent in June last, according to the Bangladesh Bureau of Statistics (BBS) data, unveiled in Dhaka on Tuesday.

In the month of July of the previous FY, 2018-19, the rate of inflation was recorded 5.51 per cent. The highest inflation in the last 13 months was 5.63 per cent in May, as per the BBS data.

Planning Minister M A Mannan unveiled the data after emerging from a meeting of the Executive Committee of the National Economic Committee (ECNEC).

He said the inflation increased a little bit last month due to increase in the prices of some food and non-food items, including fish, meat, egg, dress, house rent, and medical and educational costs.

The BBS data showed that in the general index the food inflation on point-to-point basis increased to 5.42 per cent in July from that of 5.40 per cent in the previous month.

Besides, the non-food inflation also rose to 5.94 per cent last month from that of 5.71 per cent in June.

According to the BBS data, the rate of point-to-point inflation increased both in rural and urban areas in July.

In the rural areas, the inflation rate was recorded 5.49 per cent last month compared to 5.38 per cent per cent in June.

The food inflation in the villages increased slightly to 5.60 per cent in July from that of 5.58 per cent in the previous month.

In the urban areas, the inflation on point-to-point basis was recorded 5.88 per cent in July, showing a rising trend from that of 5.78 per cent in June.

The food inflation in the cities rose to 5.03 per cent compared to 5.01 per cent in the previous month.

The non-food inflation in the urban areas also increased to 6.84 per cent last month compared to 6.64 per cent in June.

The government has taken a target to keep the inflation rate within 5.5 per cent in FY 20.

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