The overall general point-to-point inflation rate slightly declined by 0.24 percentage point to 6.60 percent in October this year from 6.84 percent in the previous month (September).
Planning Minister AHM Mustafa Kamal stated this while releasing the monthly Consumer Price Index (CPI) at a press conference at the NEC conference room of the Planning Commission in city’s Sher-e-Bangla Nagar.He said the inflation rate of the country has declined because of fall in the prices of some products on international market including fuel oil, edible oil and sugar.
Planning Division Secretary Bhuiyan Shafiqul Islam, Planning Commission members and BBS Director General Golam Mostafa Kamal were present at the press conference.
According to Bangladesh Bureau of Statistics (BBS) data, the point-to-point food inflation rate in October this year declined to 7.16 percent from 7.63 percent in September.
The point-to-point non-food inflation rate in October rose slightly to 5.74 percent from 5.63 percent in the previous month (September).
Replying to a question, the Planning Minister said that as October was the month of Eid-ul-Azha, people spent extra money in buying clothes and other necessities. The point-to-point non-food inflation rate in October rose a little for the extra expenditures.
The BBS data showed that the general point-to-point inflation rate in October was 6.79 percent in urban areas while 6.49 percent in rural areas compared to September figures of 7.02 percent in urban areas and 6.75 percent in the rural areas.
The food inflation declined in rural areas in October this year to 7.11 percent, down from 7.52 percent in the previous month of September.
The non-food inflation in rural areas rose slightly to 5.36 percent in October compared to 5.31 percent in September this year.
In urban areas, the food inflation rate declined to 7.27 percent in October from 7.88 percent in September this year.
The non-food inflation rate in urban areas witnessed an uptrend in October as it stood at 6.26 percent as against 6.07 percent in September this year.
Besides, the national wage index rate witnessed a 10.70 percent growth in October this year with 8701.78, up from 8661.20 in September this year.
The average one year inflation rate from October 2013 to October 2014 also witnessed a downtrend at 6.60 percent compared to 7.02 percent during October 2012 to October 2013.
The Planning Minister said that the target of the government is to contain inflation within 6.5 percent in the current fiscal year. – UNB
