It is very encouraging to see that inflation has eased for the third consecutive month, dropping to 9.32% in February - the first time inflation has been in single digit rates in 10 months.
This positive trend, as reported by the Bangladesh Bureau of Statistics (BBS), suggests that the interim government's efforts to curb rising prices are beginning to bear fruit.
However, this is no time for complacency and the battle against inflation is far from over.
The fact remains that monthly overall inflation has remained stubbornly above 9% for over two and a half years, and it is the everyday Bangladeshi households who are struggling the most.
With that said, given the state of the economy in August of last year when the interim government took over, coupled with all of the challenges that have arisen since then, the government deserves credit for identifying and implementing initiatives aimed at addressing inflation - which has long been among the most critical issues the average Bangladeshi faces.
With the holy month of Ramadan upon us, followed by Eid-ul-Fitr, it is imperative that the government intensifies its efforts to ensure price stability during this period.
More importantly, the government should also continue to explore and implement long-term strategies to address the root causes of inflation.
From measures to boost domestic production, diversify import sources, and improve infrastructure to reduce transportation costs and have better storage facilities for essentials, all of these will be important for us to be able to tackle inflation long term.
Prudent fiscal and monetary policies are also essential to maintain overall economic stability and prevent inflationary pressures from building up.
While the recent easing of inflation is a step in the right direction and a sign that the government's interventions are having a positive impact, we need to ensure that this downward trend continues.
