Inflation falls to 9.49% before election Inflation
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Inflation falls to 9.49% before election

Bangladesh Live News | @banglalivenews | 05 Dec 2023, 11:24 pm

Dhaka, Dec 5: The voting for the 12th National Parliament election will be held on January 7. Before that, the heat of inflation has decreased a bit. In a span of one month, the general inflation rate has decreased by 44.4 percent. Inflation eased slightly to 9.49 percent in November. It was 9.93 percent in the previous month of October. In addition, in October, the food price inflation was 12.56 percent, in November it came down to 10.76 percent.

This figure of inflation has emerged in the monthly update report of Bangladesh Bureau of Statistics (BBS). According to BBS, the country's food inflation has slightly decreased to 10.76 percent. It was 12.56 percent in the previous month. Apart from this, the price inflation of non-food products also decreased slightly to 8.16 percent.

The government's target was to keep the average inflation within 6 percent for the current financial year. But the crisis worsened as imports were disrupted due to the dollar crisis. However, the central bank has raised policy interest rates to control inflation. Bangladesh Bank has been mainly responsible for the increase in the value of the dollar for the rise in inflation. Now the central bank is trying to reduce inflation by raising interest rates. When interest rates rise, people are generally encouraged to keep deposits in banks. Food inflation has been above 12 percent for the past three months. However, in November it decreased slightly to 10.56 percent.

According to the BBS, food price inflation was 12.56 percent in October, the highest in the last 11 years and 9 months. Headline inflation also rose to 9.93 percent in October. As can be seen, even though the country's average inflation has decreased, rural inflation is still higher than urban inflation. Average rural inflation stood at 9.62 percent in November, which was 9.99 percent in the previous month of October. In November, food price inflation in rural areas came down slightly to 10.86 percent. Non-food inflation is at 8 percent.