Food inflation falls to 9.8% in Sept

Food inflation hit 9.8 per cent in September, down from 9.94 per cent in August, across the country, Planning Minister MA Mannan said on Tuesday.

He said non-food inflation reached 9.13 per cent in September, which was 8.85 per cent in August.

The minister revealed the information after the Executive Committee of the National Economic Council’s (ECNEC) meeting held at the National Economic Council (NEC) conference room in the capital.

“According to the Bangladesh Bureau of Statistics (BBS) data, overall inflation was 9.1 per cent in September, which was 9.52 per cent in August,” Mannan said.

Food inflation was 8.19 per cent in July while non-food inflation was 6.39 per cent, according to BBS data.

The general point-to-point inflation rate was 7.48 per cent in July. Bangladesh witnessed the highest inflation – 11.97 per cent – in September 2011, according to the BBS.

Mannan said inflation was increasing in the country due to the overall situation. He said the prices of all commodities had increased in the global market but inflation was seeing a downward trend. “It will decrease further.”

The minister also said the government had taken all kinds of initiatives to tame inflation with policy support and internal market surveillance.

“But now the government is giving importance to controlling the market prices of essential commodities through policies instead of raiding warehouses. As a result, inflation has come down,” he added.

Mannan said not only inflation but workers’ wage rate had increased as well. “In August, the wage rate was 6.8 per cent, which increased to 6.86 per cent in September. During this time, the wage rate increased in all sectors of agriculture, industry, and services.”

State Minister for Planning Prof Shamsul Alam said the major economies in the world are also the victims of inflation. “For example, inflation reached 10 per cent in countries like America. It has been predicted that it could reach 13 per cent in 2023,” he said.

In September, rural inflation in Bangladesh decreased to 9.03 per cent from 9.18 per cent in August. Food inflation in rural areas reached 9.36 per cent in September, down from 9.87 per cent in August.

Non-food inflation increased to 8.66 per cent in September in rural Bangladesh from 8.42 per cent in August.

Meanwhile, urban inflation decreased to 9.1 per cent in September from 9.52 per cent in August. Food inflation in urban areas stood at 9.08 per cent in September, down from 9.94 per cent in August.

Non-food inflation in urban areas decreased to 9.13 per cent in September from 9.94 per cent in August.