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Inflation hits 9.94% in May, highest in decade

Staff Correspondent
05 Jun 2023 17:57:30 | Update: 06 Jun 2023 10:53:21
Inflation hits 9.94% in May, highest in decade

The general point-to-point inflation rate has increased by 0.7 percentage point to 9.94 per cent in May 2023, compared to April this year, which is the highest over a decade.

Inflation was 9.24 per cent in April, 9.33 per cent in March and 8.78 per cent in February, according to the Consumer Price Index (CPI), Inflation Rate and Wage Rate Index (WRI) in Bangladesh.

The Bangladesh Bureau of Statistics (BBS) revealed the data on Monday, adding that the inflation rate was the highest 10.2 per cent in 2011.

Bangladesh's inflation had reached 9.52 per cent last August due to the rising commodity prices and record hikes in fuel prices. But it declined to 9.10 per cent in September. The August inflation rate was 11.3 years high in the country.

Food inflation rose to 9.24 per cent in May this year, up from 8.84 per cent in April. Simultaneously, non-food inflation escalated to 9.96 per cent in May, from 9.72 per cent in the previous month.