The overall point-to-point inflation rate in the first month of the current fiscal year witnessed a downward trend as it dropped by 0.20 percentage points to 7.85 percent in July thanks to the declining tendency of both food and non-food inflation. “The point-to-point inflation rate in July reaches 7.85 percent as per base year 2005-06,” said Director General of the Bangladesh Bureau of Statistics (BBS) Golam Mostafa Kamal.
He was addressing a press conference at the BBS auditorium. BBS deputy director general Mizanur Rahman and other high officials were also present.
The point-to-point inflation rate in June was 8.05 percent. As per the 1995-96 base year, the point-to-point inflation rate in July, 2013 was 7.78 percent.
As per the base year 2005-06, the food inflation declined by 0.12 percent in July compared to June while that of non-food inflation by 0.35 percent also compared to June.
The BBS Director General said the food inflation in July fell to 8.14 percent compared to 8.26 percent in June. On the other hand, the non-food inflation rate declined to 7.40 percent in July from 7.75 percent in June.
In urban areas, the general point-to-point inflation rate in the last month was 8.64 percent which was 7.43 percent in the rural areas.
The general inflation in urban areas in June was 9.08 percent compared to 7.53 percent in rural areas. The food inflation slowed down in rural areas in July compared to the previous month and it was 7.52 percent against 7.58 percent in June.
The non-food inflation in rural areas was also found declining as it was 7.27 percent in July compared to 7.43 percent in June.
In urban areas, the food inflation rate witnessed a declining trend in July as it stood at 9.65 percent, down from 9.94 percent in June.
The non-food inflation rate in urban areas also witnessed a downward trend in July as it stood at 7.59 percent, down from 8.21 percent in June.
The national wage index rate also witnessed a 10.54 percent growth in this July with Tk 7,751.82 which was Tk 7,709.24 in June.
The number of items in rural index basket as per the base year 2005-06 is 318 while the number of items in urban index basket is 422.
According to the BBS, the average annual inflation rate in FY 13 came down by 1.91 percent as it stood at 6.78 percent from 8.69 in FY12, as per the base year 2005-06.
According to the base year 1995-96, the average annual inflation rate in FY 13 was 7.70 percent down from 10.62 percent in FY 12. – UNB
