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Food price marks rise in FY18, admits Muhith

Published: February 26, 2018 19:41:43 | Updated: February 27, 2018 20:40:55


Food prices marked a rise in the first quarter of current fiscal FY18, admitted Finance Minister AMA Muhith on Monday.

He made the statement while placing the report on budget implementation progress of July-Sept, the trend of income and expenditure, and macroeconomic analysis.

Muhith said the food inflation in July was 6.95 per cent which was 4.35 per cent in previous fiscal, in August 7.32 per cent (4.30 per cent in previous fiscal) and in September 7.87 per cent (5.10 per cent in FY17).

The 12 months average after the quarter is 6.72 per cent, which was 4.56 per cent in FY17.

The finance minister, however, said non-food item marked a fall, as per a BSS report.

The non-food inflation in July of FY18 was 3.53 per cent (6.97 per cent in FY17), 3.75 per cent (7.0 per cent in FY17) and 3.44 per cent while it was 6.97 (6.19 per cent in FY17).

The 12 months average after the first quarter of the current fiscal is 3.81 per cent while it was 7.48 per cent in the previous fiscal.

The overall inflation in the stipulated three months of the current fiscal was 5.57per cent, 5.89 per cent and 6.12 per cent.

In the previous fiscal it was 5.40 per cent, 5.37 per cent and 5.71 per cent.

The 12 months average after the quarter of the 2017-18 fiscal is 5.55 per cent while it was 5.71 per cent during the last fiscal.

Muhith also said that remittance saw a negative growth the first quarter of the last fiscal but the the situation is improving gradually.

"The remittance inflow has increased by 4.4 per cent in the first quarter of the current fiscal compared to the previous year", he said.

In his statement, Muhith also touched upon various aspects of education, health, power and energy, communication infrastructure, agriculture and rural development, social welfare, expatriates welfare and industrial sector.

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