Inflation in Bangladesh falls slightly to 9.63% in Sept 2023

05 Oct '23

1 min read

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Inflation in Bangladesh fell slightly to 9.63 per cent in September, but the suffering of the masses will not be significantly alleviated under market conditions now, economists feel, as inflation has consistently stayed above 9 per cent since last March.
It was 9.92 per cent in August.
Wage rate also rose from August's 7.58 per cent to 7.64 per cent in September.

Inflation in Bangladesh fell slightly to 9.63 per cent in September, but the suffering of the masses will not be significantly alleviated under the current market conditions, economists feel. The general inflation in August was 9.92 per cent.

Non-food inflation eased to 7.82 per cent during the month, according to Bangladesh Bureau of Statistics (BBS) data.

Inflation has consistently remained above 9 per cent since last March, significantly affecting the cost of living, particularly for low-income groups.

Wage rate also increased from 7.58 per cent in August to 7.64 per cent in September. The highest month-on-month wage growth was experienced in the industrial sector, where it rose from 6.9 per cent in August to 7.12 per cent in September.

Economists attribute the persistently high inflation to internal factors, mostly man-made ones like availability of cheap credit, market manipulation by vested interest groups, weak monitoring mechanisms, deteriorating macroeconomic fundamentals and issues within the banking sector and money market, according to domestic media reports.

ALCHEMPro News Desk (DS)

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