Cost of living went up nearly 8.5% in 2017, says CAB

The cost of living went up by 8.44 percent in 2017, the Consumer Association of Bangladesh or CAB has said.

The consumer rights body prepared the annual report based on monitoring and analysis of 140 food items, 22 daily commodities and 14 consumer services. For consumer items and daily commodities, the CAB surveyed 15 retail markets in the capital.

CAB President Golam Rahman presented the report at a media briefing at the Dhaka Reporters Unity on Tuesday.

He said the cost of commodities and services rose by 7.17 percent in 2017 which was 5.81 in the preceding year.

The cost of living went up by 6.47 percent in 2016, the CAB president said, "But this year it has shot up to 8.44 percent."

However, education, medical and daily commute costs are not included in the survey.

The report said on an average, rice prices went up by 20.40 percent in 2017 compared with the previous year while onion price rose by 40.99 percent.

"The low-income group will be the worst affected by this rise. There is no initiative from the government to rein in the cost of living," Rahman said.

"There is no doubt that developments are taking place in the country but the poor are not benefitting from that (development)."

"Earnings have gone up for a small section of people, but the expenditure has risen for everyone," he added.

Energy adviser to CAB M Shamsul Alam and architect Mobassar Hossain were present at the briefing.