Inflation situation not worrisome: Muhith
Dhaka, Sept 6 (UNB) - As the inflation in the last fiscal rose to 7.31 percent, Finance Minister AMA Muhith on Monday said that the inflation situation in the country now is not worrisome and also not a big concern for the people.
“Inflation is not worrisome; yes, it has increased and it’s true. It is a response to international situation but it is not a big concern for us,” he told reporters after an IMF delegation called on him at his Secretariat office on Monday.
The Finance Minister said that the government is doing everything to contain inflation. “The first step we are taking is we are increasing supply to the market for which the prices of essentials didn’t shoot up in this Ramadan. Secondly, the Bangladesh Bank is controlling the money market.”
According to recent statistics provided by the Bangladesh Bureau of Statistics (BBS), inflation was 7.31 percent in the last fiscal (2009-10) although the government targeted to contain inflation within 6.5 percent.
The inflation was 6.66 percent in the 2008-09 fiscal while it was 9.93 percent in the 2007-08 fiscal.
In the 2009-10 fiscal, the food inflation was 8.53 percent and the noon-food inflation 5.45 percent.
In the rural areas, the inflation was 7.16 percent while the food inflation was 7.96 percent and non-food inflation 5.62 percent.
In the urban areas, the inflation was a bit higher at 7.69 percent while the food inflation was 9.85 percent and non-food inflation 4.99 percent.
In the last fiscal year (2009-10), the government had a target of containing inflation, on average within 6.5 percent, but in June the point-to-point inflation stood at 8.70 percent.
The inflationary indexes maintained its rise in June with an increase in food prices.
In June 2010, point-to-point inflation stood at 8.70 percent, up 0.05 percent from 8.65 in May.
According to BBS data, food inflation in June 2010 rose 0.16 percent to 10.88 while non-food inflation dropped by 0.10 percent to 5.24.
In the rural areas in June, the inflation was 8.74 percent while the food inflation was 10.40 percent and non-food inflation 5.58 percent.
In the urban areas, the inflation was 8.57 percent in June while the food inflation was a bit higher at 11.97 percent and non-food inflation 4.36 percent.
“Inflation is not worrisome; yes, it has increased and it’s true. It is a response to international situation but it is not a big concern for us,” he told reporters after an IMF delegation called on him at his Secretariat office on Monday.
The Finance Minister said that the government is doing everything to contain inflation. “The first step we are taking is we are increasing supply to the market for which the prices of essentials didn’t shoot up in this Ramadan. Secondly, the Bangladesh Bank is controlling the money market.”
According to recent statistics provided by the Bangladesh Bureau of Statistics (BBS), inflation was 7.31 percent in the last fiscal (2009-10) although the government targeted to contain inflation within 6.5 percent.
The inflation was 6.66 percent in the 2008-09 fiscal while it was 9.93 percent in the 2007-08 fiscal.
In the 2009-10 fiscal, the food inflation was 8.53 percent and the noon-food inflation 5.45 percent.
In the rural areas, the inflation was 7.16 percent while the food inflation was 7.96 percent and non-food inflation 5.62 percent.
In the urban areas, the inflation was a bit higher at 7.69 percent while the food inflation was 9.85 percent and non-food inflation 4.99 percent.
In the last fiscal year (2009-10), the government had a target of containing inflation, on average within 6.5 percent, but in June the point-to-point inflation stood at 8.70 percent.
The inflationary indexes maintained its rise in June with an increase in food prices.
In June 2010, point-to-point inflation stood at 8.70 percent, up 0.05 percent from 8.65 in May.
According to BBS data, food inflation in June 2010 rose 0.16 percent to 10.88 while non-food inflation dropped by 0.10 percent to 5.24.
In the rural areas in June, the inflation was 8.74 percent while the food inflation was 10.40 percent and non-food inflation 5.58 percent.
In the urban areas, the inflation was 8.57 percent in June while the food inflation was a bit higher at 11.97 percent and non-food inflation 4.36 percent.
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