CAB questions authenticity of inflation data provided by BBS

Consumers Association of Bangladesh (CAB) has questioned the authenticity of the inflation data provided by the Bangladesh Bureau of Statistics (BBS).

At a press conference on Tuesday, CAB President Ghulam Rahman said the inflation rate in Bangladesh was 9.02 per cent in the last financial year (FY’23) as per the BBS data.

“But, after reviewing the rates of essentials delivered by the Trading Corporation of Bangladesh (TCB) the hike in prices of many essentials seemed much higher than the official inflation rate, he said.

“The syndication of a few companies in the name of open market economy is largely responsible for the market volatility,” CAB president claimed.

Consumers Association of Bangladesh also demanded formation of a separate ministry on consumers’ affairs, food and public distribution to protect consumers.

The observations came at the press conference titled sky rocketing trend of essential commodities and remedies, organised by CAB at the National Press Club, in the city.

President of CAB Ghulam Rahman presented the keynote while its secretary Humayun Kabir Bhuiyan, vice president Prof Dr M Shamsul Alam, Dhaka District CAB president Brig Gen (ret) M Shams Khan, among others also spoke.

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