Bangladesh sets inflation target at 5.6% for FY19 

Finance Minister AMA Muhith hopes to keep the average annual inflation rate at 5.6 percent in the next fiscal year beginning on July 1.

News Deskbdnews24.com
Published : 7 June 2018, 12:10 PM
Updated : 7 June 2018, 05:10 PM

In the outgoing fiscal year, the projected inflation was 5.5 percent, which was revised up to 5.8 percent.

The rate of inflation was recorded at 5.57 percent in May on the back of easing price of essentials, according to the national statistical agency BBS.

Muhith proposed the target of 5.6 percent inflation in the budget in parliament on Thursday.

Bangladesh has been at a comfortable level terms of the inflationary pressure over the last few years as the global oil and food prices were almost stable.

Despite the fact that there is a downward trend in food inflation due to increased agricultural production supported by efficient supply management, non-food inflation is ticking up under the influence of rising global commodity prices, according to the budget documents.