Bangladesh inflation edges up again to 8.29% in November

The increase was driven by food inflation

Bangladesh’s inflation rate has increased once again, hitting 8.29 percent in November.

The increase was mainly driven by higher food prices, according to data released by the Bangladesh Bureau of Statistics (BBS) on Sunday.

The inflation rate had dropped to a 39-month low of 8.17 percent on a point-to-point basis in October, before climbing again in November.

The latest figures mean that a basket of goods or services that cost Tk 100 in November 2024 cost an average of Tk 108.29 in November this year.

The general inflation rate was 11.38 percent in November last year.

In July this year, inflation stood at 8.55 percent. Then in August it hit a 37-month low of 8.29 percent. In September it ticked up again to 8.36 percent.

It decreased again in October before creeping up once more.

In July last year, amid the July Uprising, the overall inflation rate had hit an eye-watering 11.66 percent. After the Awami League government was ousted and the interim government took the reins, the rate hovered in the 9-10 percent range.

In May this year, the rate fell to 9.05 percent and fell further in June to 8.48 percent.

The latest inflation data says the economic indicator is still fluctuating, and it is well above the government’s target of 6.5 percent in the 2025-26 fiscal year.

To try and hit the target, Bangladesh Bank has kept the policy interest rate high.

The latest data from BBS says that food inflation rose from 7.08 percent in October, to 7.36 percent in November – an increase of 0.28 percentage points.

Non-food inflation eased slightly from 9.13 percent in October to 9.08 percent in November.

Rural inflation rose from 8.16 percent in October to 8.26 percent in November. Meanwhile, urban inflation rose from 8.33 percent to 8.39 percent.