• Wednesday, Apr 08, 2020
  • Last Update : 02:29 am

Inflation slightly eases to 5.37% in November

  • Published at 10:45 pm December 4th, 2018

The BBS data showed that point-to-point non-food inflation rate, however, declined slightly to 5.49% in November, down from 5.90% in October

The general point to point inflation rate in November eased to 5.37% from the previous month due to the slight decrease in non-food inflation.

Planning Minister AHM Mustafa Kamal made the declaration on Tuesday while releasing the monthly consumer price index at a ‘Meet the Press’ event held at the NEC Conference Room in Dhaka, reports BSS.

The general point-to-point inflation rate was October, 5.43% in September, and 5.48% in August. 

According to data by the Bangladesh Bureau of Statistics (BBS), the point-to-point food inflation slightly increased to 5.29% in November, from 5.08% in October.

After revealing the data, the Planning Minister said that the supply of all essential items is now stable and normal, while the price of food items like green chili, onion, turmeric, rice, and chicken are on a downwards trend.

“There is no mismatch in the demand and supply chain, and the price of essentials produced in the country is low along with imported items. The exchange rate has been almost stable over the last one year,” he added.

Responding to a query, AHM Mustafa Kamal said that employment opportunities are being created in the country. “We hope that in future, there will be no worries regarding employment generation.”

The Planning Minister also hoped that the trend of inflation would remain in a comfortable zone in this fiscal year.

He also expressed high hopes that the GDP growth rate at the end of the current fiscal year would reach 8.25%.

The BBS data showed that point-to-point non-food inflation rate, however, declined slightly to 5.49% in November, down from 5.90% in October.

Moreover, the general inflation rate at the urban level, slightly declined to 6.21% in November, while it was 4.91% at the rural level.

At the rural level, food inflation slightly increased to 4.84% in November from 4.52% in October, while the non-food inflation came down to 5.06% in November from 5.53% in October, this year.

In urban areas, the food inflation also declined to 6.32% in November, down from 6.35% in October. The non-food inflation rate also witnessed a declining trend with 6.09% in November, from 6.41% in October last.

The national wage index rate witnessed a 6.26% growth in November with 159.28 points against a 6.19% growth in October with 157.88 points.

The average year- to-year rate of inflation from December 2017 to November 2018 declined to 5.59%, from 5.64% in the December 2016 to November 2017 period.