The cost of living in the capital witnessed an 11% rise last year hitting hard the poorer section of over 1 crore population, according to an annual report released by the Consumers Association of Bangladesh (CAB).
The cost of living has been calculated on the basis of the “weight” of products and services available in the consumers’ basket, said the report released yesterday.
Apart from the price hike of essentials, electricity, drinking water and fuel, the house rent in the city also witnessed a significant rise – 10.91% – last year, compared to the previous year.
“Many families have been forced to move to suburbs due to sharp rise in house rent,” said the report.
The prices of products and services increased by 12.17% last year, mainly because of political instability, it says.
The organisation made the report assessing the prices of 114 products, 26 essential commodities and 10 services. The percentage of the price hike of products and services has been calculated considering the product and services price of some 15 wholesale and retail markets in the capital.
It found that the prices of ginger, onion, garlic and green chilli marked the highest 38.64%. “The price of onion has been on the rise since June [last year].”
According to the report, the prices of fish increased by 20.36%, spices by 15.25%, rice by 10.04% and fine rice (Perfumed rice) by 16.32% last year compared to 2012.
Meanwhile, electricity price increased by 7.30% while fuel price by 5.65%. The same way, the price of water (Wasa) was increased by 5.01%.
However, the price of soybean oil came down by 5.63%, salt by 5.16% and sugar by 12.84% last year.
The CAB recommended steps for proper imposition of the “Competition Law” to prevent syndicates in the market. It also urged the government to take necessary steps in stopping illegal hoarding of essentials and for making the Trading Corporation of Bangladesh (TCB) effective in true sense.
