Inflation in Bangladesh drops slightly to 9.74% in Apr; non-food 9.34%

14 May '24

1 min read

Inflation in Bangladesh dropped slightly to 9.74 per cent in April this year from 9.87 per cent in March. Non-food inflation slid by 30 basis points to 9.34 per cent in the month, down from 9.64 per cent in July last year as well as in March this year.

The consumer price index (CPI) grew by 9.81 per cent in March, data from the Bangladesh Bureau of Statistics (BBS) showed.

On January 21 this year, the central bank raised the policy interest rate again by 25 basis points to 8 per cent to tackle inflation while ensuring adequate funding to productive industrial sectors to support growth.

As consumption growth slows and population increases, almost half a million Bangladeshis are projected to fall into extreme poverty between fiscal 2022-23 and fiscal 2023-24, according to the World Bank's Macro Poverty Outlook (MPO) 2023.

Elevated inflation will weigh in on consumption, while private investment will remain constrained by foreign-exchange rationing, the World Bank had said.

The inflationary pressure is maintaining a higher trajectory over the last few months as point-to-point inflation has not been falling even below the 9 per cent rate, according to reports in domestic media outlets.

Fibre2Fashion News Desk (DS)

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