Bangladesh records 9.81% inflation in March

According to data released by the Bangladesh Bureau of Statistics (BBS) recently, food inflation reached 9.87 per cent, while non-food inflation stood at 9.64 per cent.

Comparatively, in February, food inflation was at 9.44 per cent, and non-food inflation at 9.33 per cent. January recorded a food inflation rate of 9.56 per cent and non-food inflation of 9.42 per cent.

Dr. Mustafa Kamal, Executive Director of the Institute for Inclusive Finance and Development (InM), attributed the price hikes to traditional trends during Ramadan and Eid, coupled with recent increases in electricity tariffs and persistent dollar crisis.

Despite a slight decrease in inflation from January to February, March witnessed a reversal due to these factors.

Dr. Kamal expressed concern over the lack of a consistent downward trend in inflation, despite existing government policies and price regulations on certain products even as he emphasised the need for more effective measures to curb inflation.

Bangladesh has been grappling with inflation above 9 per cent since March 2023, with food inflation peaking at 12.54 per cent in August before moderating to 10.76 per cent in November.

The challenges in controlling inflation persist, reflecting the complexity of economic dynamics amidst ongoing policy interventions.

Fibre2Fashion News Desk (DR)