Average inflation rises to 6.41 percent in 2014-15 FY

Inflation in June at the beginning of Ramadan was up though the government has largely been successful in keeping the average inside its budget target.

On a point-to-point basis, inflation increased to 6.25 percent in the last month of previous fiscal year (FY) from 6.19 percent in May.

Food inflation rose to 6.32 percent in June from the previous month’s 6.23.

Non-food inflation increased to 6.15 percent which was 6.14 percent in May.

Overall, the average inflation in the 2014-15 FY stood at 6.41 percent.

The budget for 2014-15 targeted to bring the inflation below 7 percent.

Average inflation of 2013-14 FY was 7.35 percent.

The Bangladesh Bureau of Statistics (BBS) published the latest inflation data on Tuesday.

Planning Minister AHM Mustafa Kamal disclosed the information at a press briefing after a meeting of the Executive Committee of the National Economic Council (ECNEC).

“Price of food and petroleum products was low in the international market. It helped to rein in the inflation.”

He said the petroleum prices swelled to $147 per barrel which now dropped to $48 to 49.

In rural areas, overall inflation rose to 5.9 percent in June from 5.84 percent in the previous month.

Inflation in urban areas increased from 6.87 percent to 6.91 during the same period.