Economy
a year ago

Inflation goes up again on high food prices

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Fuelled by soaring prices of food, the rate of headline inflation went up again in October this year after a slight fall in September from the previous month's level.

The overall inflation stood at 9.93 per cent, the highest in the last five months, according to BBS data released Monday, rising from 9.63 per cent in September when the rate inched down from 9.92 per cent.

The earlier highest rate was 9.94 per cent in May 2023.

The rate of inflation was 1.02 percentage points lower at 8.91 per cent in October last year.

The rate of inflation averaged at 9.37 per cent in the last 12-month period from November 2022 to October 2023.

Officials at the Bangladesh Bureau of Statistics (BBS) told the FE that higher food prices pushed up the overall consumer price index (CPI) in the last month.

BBS recorded the food inflation at 12.56 per cent in October, 0.19 percentage-point up from 12.37 per cent in September, while non-food inflation increased to 8.30 per cent in October from 7.82 per cent in the previous month.

Meanwhile, the skyrocketing prices of essentials affected the rural people more than the urban population in October as the CPI was higher in the rural areas.

The rural inflation stood at 9.99 per cent in October, rising from 9.75 per cent in September, while urban inflation rose to 9.72 per cent in October from 9.24 per cent in September. The food inflation in urban areas stood at 12.58 cent in October compared to 12.01 per cent in September, while non-food inflation rose to 8.50 per cent in October from 8.12 per cent in September.

In the rural areas, the non-food inflation was recorded at 8.01 per cent in October, 0.59-percent higher than in September.

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