Average inflation swells over 7%

The 2013-14 financial year has ended with a 7.35 percent inflation on average.

Chief Economics Correspondentbdnews24.com
Published : 10 July 2014, 08:37 PM
Updated : 10 July 2014, 08:37 PM

Planning Minister AHM Mustafa Kamal on Thursday disclosed the information which spoiled Finance Minister AMA Muhith's hope to keep the inflation under 7 percent in the new fiscal.

While presenting the 2014-15 budget proposal in June, Muhith had not set any inflation target but expected the rate to drop.

Kamal at a press briefing said the rate in last fiscal's June was at 6.97 percent on a point-to-point basis. It was 7.48 percent in May.

He said 2013-14's annual average inflation was at 7.35 percent.

The inflation rate in 2012-13 was 6.78 percent.

File Photo

File Photo

Bangladesh Bureau of Statistics (BBS) published the latest inflation data using 2005-06 as the base year.
The planning minister said prices of all imported commodities including sugar and edible oil reduced which led to the drop in inflation.
But non-food inflation is a bit higher due to the Ramadan, he added.
Non-food inflation rate was at 5.45 percent in June and in May it was 5.16 percent.
BBS data showed inflation rate also dropped both in rural and urban areas in June.