The overall point-to-point inflation slightly dropped by 0.07 percentage points in September from the previous month and stood at 6.84 per cent as both food and non-food markets were almost stable in the period, according to the data of Bangladesh Bureau of Statistics.
In August, the overall point-to-point inflation rate was 6.91 per cent.
Food and non-food inflation also came down to 7.63 per cent and 5.63 per cent respectively in September from that of 7.67 per cent and 5.76 per cent respectively in the previous month, the data showed.
Planning minister AHM Mustafa Kamal on Tuesday released the data at a press conference after the regular meeting of the Executive Committee of the National Economic Council chaired by prime minister Sheikh Hasina at ECNEC conference room.
He said that the rate of inflation was continuing to decline over the last two months and reached to 6.84 per cent in September which was close to the government’s average target of 6.5 per cent set for the current fiscal year.
By the year end, the government will be able to achieve the target of containing the inflation rate within 6.5 per cent, he hoped.
Average annual inflation from October-2013 to September 2014, however, stood at 7.22 per cent, declining from 7.37 per cent of the same period of last year (October 2012 to September 2013).
According to the data, all three indicators of inflation—general, food and non-food—also declined in rural and urban areas.
In urban areas, the rate of inflation, however, remained higher than the national indicators and rural indicators, the data showed.
In urban areas, point to point inflation stood at 7.02 per cent in September which was 6.75 per cent in rural areas.
Point-to-point inflation in August was 7.08 per cent in urban areas and 6.83 per cent in rural areas.
In September, food and non-food inflation in urban areas declined to 7.88 per cent and 6.07 per cent from 7.89 per cent and 6.19 per cent respectively in August.
In rural areas, food and non-food inflation also dropped to 7.52 per cent and 5.31 per cent in the month respectively which was 7.56 per cent and 5.46 per cent respectively in the previous month.
According to the data, on monthly basis, food inflation stood at 1.83 per cent in September because of price hike of rice, fish, meat, vegetables, fruit, spices, milk and milk products, tobacco products and other food items compared with that of August.
The prices of non-food items like house rent, clothes, furniture, household items, costs of medical services, transportation, education materials and other goods and services also rose in September causing 0.77 per cent inflation which was 0.50 per cent in previous month, the data showed.
BBS also disclosed the Wage Rate Index for September.
In the month, the national wage rate saw a 10.77 per cent growth compared with 10.62 per cent growth in August.
In September, national average wage rate index stood at 8,661.20 up from 8,612.73 in August, the data showed.
State Minister for finance and planning MA Mannan, Planning Division secretary Bhuiyan Shafiqul Islam, BBS director general Golam Mostafa Kamal, among others, attended at the briefing.
-With New Age input
