Inflation accelerates to 10.62 pc in last fiscal: BBS
Food, non-food inflations decline further in June
Dhaka, July 5 (UNB) - The average inflation rate accelerated to 10.62 percent in the last fiscal (2011-2012), up from 8.80 percent estimated during the 2010-2011 fiscal year, according to the Bangladesh Bureau of Statistics (BBS).
However, the point-to-point inflation rate came down to 8.56 percent in June this year which was 9.15 percent in May, said BBS’ new Director General Golam Mostafa Kamal at a press conference at its conference room on Thursday.
The government has set a target of bringing down the inflation rate by 7.5 percent in the current fiscal (2012-2013), but the last year’s data showed it would apparently be difficult to achieve.
The country’s point-to-point inflation rate had come down to single digit after 13 months as it declined by 0.17 percentage point in April to stand at 9.93, down from 10.10 in March.
Apart from the point-to-point inflation rate, Mostafa Kamal, who replaced M Shahjahan Ali Mollah, said the food inflation and non-food inflation also came down in June compared to that of May.
The food inflation rate slowed down further to 7.08 percent in June, showing a 0.56 percent decline against 7.46 percent estimated in May.
“The price fall of rice and rice-related products are the reasons behind the decline in the food inflation rate,” the BBS DG said.
The non-food inflation is still high with double-digit growth though it shed to some extent. The non-food inflation stood at 11.72 percent in June, 0.13 percent down, which was 12.72 percent in May.
In urban areas, the general point-to-point inflation rate came down to 10.29 percent in June from 11.12 percent recorded in May.
Food and non-food inflations in urban areas also witnessed the declining trend with 9.57 percent and 11.28 percent in June. “It was 10.17 percent and 12.44 percent respectively in May.”
In rural areas, the general point-to-point inflation rate is also showing a declining trend. The inflation rate came down to 7.88 percent in June from 8.38 percent recorded in May.
“Food and non-food inflation rate in rural areas was 6.02 percent and 11.88 percent respectively in June against 6.30 percent and 12.82 percent recorded in May,” the BBS DG said.
Mostafa Kamal said the BBS has taken initiatives to introduce new base year to determine the Consumer Price Index (CPI). “The new base year will be 2005-2006. The present base year is 1995-1996.
Replying to a question, Deputy Director General of the BBS M Mizanur Rahman said the non-food inflation rate was high in the last fiscal year.
Fuel price hike and subsequent rising electricity, transport and house rent fueled the non-food inflation, he added.
However, the point-to-point inflation rate came down to 8.56 percent in June this year which was 9.15 percent in May, said BBS’ new Director General Golam Mostafa Kamal at a press conference at its conference room on Thursday.
The government has set a target of bringing down the inflation rate by 7.5 percent in the current fiscal (2012-2013), but the last year’s data showed it would apparently be difficult to achieve.
The country’s point-to-point inflation rate had come down to single digit after 13 months as it declined by 0.17 percentage point in April to stand at 9.93, down from 10.10 in March.
Apart from the point-to-point inflation rate, Mostafa Kamal, who replaced M Shahjahan Ali Mollah, said the food inflation and non-food inflation also came down in June compared to that of May.
The food inflation rate slowed down further to 7.08 percent in June, showing a 0.56 percent decline against 7.46 percent estimated in May.
“The price fall of rice and rice-related products are the reasons behind the decline in the food inflation rate,” the BBS DG said.
The non-food inflation is still high with double-digit growth though it shed to some extent. The non-food inflation stood at 11.72 percent in June, 0.13 percent down, which was 12.72 percent in May.
In urban areas, the general point-to-point inflation rate came down to 10.29 percent in June from 11.12 percent recorded in May.
Food and non-food inflations in urban areas also witnessed the declining trend with 9.57 percent and 11.28 percent in June. “It was 10.17 percent and 12.44 percent respectively in May.”
In rural areas, the general point-to-point inflation rate is also showing a declining trend. The inflation rate came down to 7.88 percent in June from 8.38 percent recorded in May.
“Food and non-food inflation rate in rural areas was 6.02 percent and 11.88 percent respectively in June against 6.30 percent and 12.82 percent recorded in May,” the BBS DG said.
Mostafa Kamal said the BBS has taken initiatives to introduce new base year to determine the Consumer Price Index (CPI). “The new base year will be 2005-2006. The present base year is 1995-1996.
Replying to a question, Deputy Director General of the BBS M Mizanur Rahman said the non-food inflation rate was high in the last fiscal year.
Fuel price hike and subsequent rising electricity, transport and house rent fueled the non-food inflation, he added.
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