Inflation to remain around 6pc in FY24: Kamal

Finance Minister AHM Mustafa Kamal today (June 1) said that the annual average inflation in the next fiscal year (FY24) would remain around six per cent.

"Due to the decrease in the prices of fuel, food, and fertilizer in the global markets, along with the adjustment of fuel prices in the domestic markets and government initiatives to keep the food and supply systems normal, the inflation will remain much controlled in the next fiscal year and the annual average inflation is expected to stand around 6.0 per cent," he said.

The Finance Minister said this while placing the proposed budget for 23-24 fiscal year (FY) at Jatiya Sangsad in Dhaka today (June 1).

Mentionable, the rate of inflation was 12.3 per cent in FY2007-08, he said, despite intermittent global economic recession, in the last 14 years rise in food and fuel prices in the world markets, the government was able to keep the inflation in check.

In FY22, the average inflation was within 6.75 per cent. Even in the last fiscal year, the average inflation was 6.15 per cent.

"Although the inflation increased due to the Russia-Ukraine war, the government has been making an all-out effort to check the inflation and mitigate its impact on the people," he added.