The Financial Express

Inflation hits two-year-high at 6.12pc

| Updated: October 24, 2017 18:16:25

File Photo (Focus Bangla) File Photo (Focus Bangla)

The point-to-point inflation rate hit the two-year-high of 6.12 per cent in last month (September), mainly due to rise in the prices of some food and non-food items, officials said.

The Bangladesh Bureau of Statistics (BBS) data, released on Tuesday, showed that the highest inflation rate was recorded at 6.19 per cent two years ago in October 2015.

The national statistical body said the rate of inflation started to pick up in July 2017, when it was 5.57 per cent. It rose to 5.89 per cent in the subsequent month (August).

The consumer price index (CPI) in this September increased to 244.36, compared to 239.92 in August, and 236.61 in July, the data showed.

On point-to-point basis, the inflation was recorded at 5.53 per cent in September 2016, according to BBS.

Planning Minister A H M Mustafa Kamal disclosed the monthly inflation data after a meeting of the Executive Committee of the National Economic Council (ECNEC) in the capital on Tuesday.

He said: "Recent flood disrupted production and supply chain that in turn slightly pushed up the inflation. But it would come down soon."

The planning minister also expressed the hope that the inflation would remain within the target, set in the fiscal policy.

According to BBS, the prices of rice, meat, vegetables, milk and milk products, fuel and light, house rent, treatment, transport and other items as well as services rose in last month compared to its previous month, which led to the rise in CPI in September.

BBS data showed that the month-on-month inflation rate on food items increased at 7.87 per cent rate, compared to that of 3.44 per cent on non-food items in September.

On point-to-point basis, the inflation rate on food items rose significantly to 6.21 per cent in last month, compared to 5.88 per cent in August.

However, the inflation on non-food items dropped to 3.44 per cent in September this year, compared to 3.75 per cent in the previous month.

The month-on-month inflation rate in the urban areas slightly increased to 5.95 per cent in September, compared to 5.91 per cent in the previous month, the BBS data showed.

On the other hand, the inflation rate in the rural areas rose significantly to 6.21 per cent in September 2017, compared to that of 5.88 per cent in August.

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