Inflation slightly rises to 5.57 pc in Oct

Inflation slightly rises to 5.57 pc in Oct

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The inflation rate in the country increased slightly to 5.57 percent in October, up from 5.53 percent in September fueled by the uptrend in food inflation.”The general point-to-point inflation rate increased slightly to 5.57 percentage point in October,” said Planning Minister AHM Mustafa Kamal on Thursday while releasing the monthly consumer price index (CPI) after the Ecnec meeting.The general inflation rate that is the percentage change in the CPI during the last 12 months was 5.53 percent in September, 5.37 percent in August, 5.40 percent in July, 5.45 percent in May, 5.61 percent in April, 5.65 percent in March and 5.62 percent in February.According to data from the Bangladesh Bureau of Statistics (BBS), the food inflation increased to 5.56 percentage point in October from 5.10 percent in September.

The Planning Minister said the inflation rate in the previous month increased a bit due to the slight rise in food inflation mainly in rice, vegetables, salt, oil, sugar, and milk. He, however, said the food inflation in October last year was a bit higher as it was 6.19 percent.According to the BBS, the average general inflation rate in the last fiscal year was 5.92 percent, which was 6.41 percent in fiscal year 2014-15, 7.35 percent in 2013-14, 6.78 percent in 2012-13.The BBS data showed that the point to point non-food inflation rate, however, slightly declined to 5.58 percent in October 2016 down from 6.19 percent in September, 2016.Besides, the general inflation rate at the urban level in October declined to 6.87 percent while it was 4.87 percent at the rural level.At the rural level, the food inflation increased to 4.89 percent in October, up from 4.27 percent in the previous month, while the non-food inflation declined to 4.83 percent in October as against 5.31 percent in September this year.In urban areas, the food inflation also increased to 7.09 percent in October, up from 7.03 percent in September. The non-food inflation rate, however, witnessed a declining trend with 6.63 percent in October, which was 7.42 percent in September this year.The point-to-point national wage index witnessed an increasing trend with 6.16 percent in October, up from 6.09 percent in September.The average year- to-year rate of inflation from November 2015 to October 2016 also declined to 5.66 percent, which was 6.21 percent from November 2014 to October 2015.
source:UNB

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