The average point-to-point inflation increased to 7.04 per cent in July from 6.97 per cent in June following the price hike of non-food items during the month of Ramadan, planning minister AHM Mustafa Kamal said on Tuesday. The Bangladesh Bureau of Statistics data showed that the non-food inflation rose to 5.71 per cent in July which was 5.45 per cent in the previous month.
The food inflation, however, declined slightly in the month to 7.94 per cent from previous month’s 8 per cent.
‘The increased expenses in the non-food items during Ramadan and Eid were the reasons for increased inflation in July,’ Kamal told reporters.
He said the government would contain the general inflation rate in between 7 to 7.50 per cent or lower at the end of the fiscal year.
The government, however, set the target of containing inflation within 6.5 per cent in current fiscal year.
In urban areas, the general point-to-point inflation rate was 7.24 per cent in July this year which was 7.42 per cent in June.
In rural areas, general inflation also rose to 6.93 per cent in July from 6.73 per cent in June.
The food inflation increased in rural areas in July compared to the previous month and it was 7.78 per cent against 7.64 per cent in June.
The non-food inflation in rural areas was also found increasing as it was 5.43 per cent in July compared to 5.12 per cent in June this year.
In urban areas, the food inflation rate declined in July as it stood at 8.31 per cent down from 8.87 per cent in June this year.
The non-food inflation rate in urban areas witnessed an upward trend in July as it stood at 6.10 per cent up from 5.91 per cent point in June this year.
The average point-to-point inflation increased to 7.35 per cent in the immediate past financial year of 2013-14 from that of 6.78 per cent in the previous year due to political unrest.
The government had set a target to contain point-to point inflation within 7 per cent in FY14.
-With New Age input
