Inflation eases to 8.56pc in June,Bangladesh

BANGLADESH NEWS

Inflation declined to 8.56 percent in June from 9.15 percent in May, Golam Mostafa Kamal, director general of Bangladesh Bureau of Statistics, said on Thursday.

Food inflation fell to 7.08 percent in June from 7.46 percent in May.

Non-food inflation fell to 11.72 percent in June from 12.72 in the previous month, Kamal told reporters in Dhaka.

Bangladesh's average inflation rose to 10.62 percent in the year to June 30 from 8.80 percent a year ago, he said.

UNB adds: The government has set a target of bringing down the inflation rate by 7.2 percent in the current fiscal (2012-2013), but the last year’s data showed it would apparently be difficult to achieve.

The country’s point-to-point inflation rate had come down to single digit after 13 months as it declined by 0.17 percentage point in April to stand at 9.93, down from 10.10 in March.

Mostafa Kamal said the BBS has taken initiatives to introduce new base year to determine the Consumer Price Index (CPI). “The new base year will be 2005-2006. The present base year is 1995-1996.”

Replying to a question, Deputy Director General of the BBS M Mizanur Rahman said the non-food inflation was high in the last fiscal year.

Fuel price hike and subsequent rising electricity, transport and house rent fueled the non-food inflation, he added