Bangladesh inflation rises after falling for six months

The rate of increase is larger in the rural areas than in cities, BBS data shows

Published : 12 March 2023, 03:31 PM
Updated : 12 March 2023, 03:31 PM

Bangladesh’s inflation has posted a 8.78 percent rise in February compared with the rate in the same period last year after falling for six months from a decade-high of 9.84 percent.

Data published by the Bangladesh Bureau of Statistics on Sunday showed rural areas were hit harder by the rise than in the cities. The rate was 8.80 percent in the rural areas and 8.75 percent in the cities.

Food inflation was 8.13 percent, up from 7.76 percent in the previous month.

Non-food inflation, however, fell to 9.82 percent from 9.84 percent in January.

In January, general inflation fell to 8.57 percent from 8.71 percent.

Speaking to journalists after a meeting of the Executive Committee of the National Economic Council, State Minister for Planning Shamsul Alam described the rise in inflation “insignificant”.

“The rate is somewhat stable. It is kind of normal compared to the high inflation in other countries,” he said.

“Prices of some products rise naturally when their demand grows. There’s nothing to worry about.”

The demand for some products will increase in upcoming Ramadan, the Muslim holy month of fasting, but inflation will stay tolerable because the government took steps to import them to prevent a shortage, Shamsul claimed.