The overall point-to-point inflation slightly came down by 0.13 percentage points to 6.91 per cent in August, thanks to a fall in food prices in the international markets and stable situation in domestic market, according to Bangladesh Bureau of Statistics data released on Thursday. In July, the rate of point-to-point inflation was 7.04 per cent. The data showedthat food inflation dropped to 7.67 per cent in August compared to that of 7.94 per cent in the previous month.
Non-food inflation, however, increased a little bit in August and stood at 5.76 per cent from 5.71 per cent in previous month because of rise in house rent, cost of transportation, education and medical expenses and other non-food items, the data showed.
Planning minister AHM Mustafa Kamal revealed the data at a press conference organised by BBS at the planning ministry conference room at Sher-e-Bangla Nagar in Dhaka.
‘The overall inflation declined as the price of most imported food items including vegetable oil and sugar decreased in international market while the prices of locally produced food items except vegetables remained stable,’ he said.
He said that the point-to-point inflation might gradually reduce in coming months to reach near about 6.50 per cent by next June if the global economy remains stable and flood situation does not deteriorate.
It may increase again if the flood situation the country is currently experiencing deteriorates and prolongs, he apprehended.
At the briefing, planning minister also talked about the seventh five-year plan to be introduced in June 2015 and current economic situation in the country including growth rate, poverty reduction and other issues.
He said that it would not be possible for Bangladesh to achieve the target of economic growth at 8 per cent in 2015 as the assumptions on which the government set the target have changed.
According to BBS data, food inflation, on monthly basis, stood at 1.83 per cent in August because of price fall of rice, fish, meat, egg, vegetables, fruit, spices, milk and milk products, tobacco products and other food items compared with that of July.
In July, monthly food inflation was 2.18 per cent.
The prices of non-food items like house rent, furniture, household items, costs of medical treatment, transportation, education materials and other goods and services also rose in August causing 0.50 per cent inflation which was 0.63 per cent in previous month, according to BBS data.
In the urban areas, the overall point-to-point inflation rate was 7.08 per cent in August which was 7.24 per cent in July.
Food inflation in the urban areas dropped to 7.89 per cent in the month from 8.31 per cent in July while non-food inflation increased slightly to 6.19 per cent from 6.10 per cent.
In the rural areas, the overall point-to-point inflation declined to 6.83 per cent in the month from 6.93 per cent in July.
Food inflation in the rural areas declined to 7.56 per cent in August while non-food inflation rose to 5.46 per cent.
In July food inflation was 7.78 per cent and non-food inflation was 5.43 per cent.
Planning secretary Bhuiyan Shafiqul Islam, planning commission member Shamsul Alam, BBS director general Golam Mostafa Kamal, among others, attended the briefing.
-With New Age input
