Inflation in Bangladesh 9.94% in May; highest in over 11 years: BBS

06 Jun '23

1 min read

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Inflation in Bangladesh reached 9.94 per cent in May—the highest in 11 years and two months, official statistics showed.
Both food and non-food inflation contributed to the overall rise.
Inflation in rural areas stood at 9.85 per cent in May—up from 8.92 per cent in April.
The figure in urban areas rose to 9.97 per cent from 9.68 per cent a month earlier.

Bangladesh is witnessing an alarming rise in inflation, which reached 9.94 per cent in May—the highest in 11 years and two months, Bangladesh Bureau of Statistics (BBS) data showed.

Both food and non-food inflation contributed to the overall increase that has affected both urban and rural areas.

Non-food inflation went up to 9.96 per cent last month—up by 24 basis points from 9.72 per cent in April this year.

Inflation has never surpassed double digits since March 2012, when it was 10.10 per cent, and fell to 9.93 per cent the next month.

Inflation in rural areas stood at 9.85 per cent in May—up from 8.92 per cent in April. The figure in urban areas rose to 9.97 per cent from 9.68 per cent a month earlier.

The previous high in recent times was recorded in August last year when the consumer price index (CPI) soared to 9.52 per cent, Bangladesh media reported.

In his last budget speech, however, finance minister AHM Mustafa Kamal vowed to keep inflation at 5.6 per cent.

ALCHEMPro News Desk (DS)

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