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Inflation eases to 5.47% in October despite hike in food prices

  • Published at 10:44 pm November 5th, 2019
Web_Planning Minister MA Mannan
File photo of Planning Minister MA Mannan Collected

The inflation rate was 5.40% in October last year according to the latest report of the Bangladesh Bureau of Statistics

The point-to-point inflation rate eased by 0.07% to 5.47% in October from 5.54% in September as a result of price fall in non-food items and some food commodities.

Planning Minister MA Mannan disclosed this while releasing the monthly consumer price index (CPI) after Tuesday’s Ecnec meeting.

The inflation rate was 5.40% in October last year according to the latest report of the Bangladesh Bureau of Statistics (BBS).

"The inflation rate declined slightly last month due to fall in prices of some fishes, fruits, and vegetables," said the minister.

He also said overall inflation was under control despite a huge hike in the price of onions.

BBS data showed that while non-food inflation rate declined to 5.45% last month from 5.92% in September, food inflation increased to 5.49% in October from 5.30% in the previous month.

The inflation rate in urban areas declined to 5.67% in October from 5.80% in September. 

Inflation in rural areas was 5.36%, down from 5.41% in September.

Moving average of inflation for the last 12 months dropped to 5.50% from 5.63% during the previous 12 months.

The October inflation rate of 5.47% indicates that a commodity which was Tk100 last year will now cost Tk105.47, and one will have to buy a lower volume of the commodity if one's income remains static.

The point-to-point national wage index witnessed a downward trend with 6.38% in October against 6.51% in September this year.

BBS calculates CPI every month to find the rate of inflation, which measures the degree of average increase in the cost of living standard over the last one year.