The government has set a target in the new budget to keep the inflation rate at a comfortable level of 5.5 per cent in the next fiscal year (FY) 2019-20.
Up to March of the outgoing FY2019, the rate of inflation was recorded at 5.4 per cent against the preliminary target of 5.6 per cent in the last budget.
The latest data of the Bangladesh Bureau of Statistics (BBS) showed the point-to-point inflation rate in March lower at 5.55 per cent as prices of some daily items were continuing to budge.
In the previous month, February 2019, the inflation rate was 5.47 per cent, the official data showed.
According to the BBS data, the point-to-point inflation a year ago in March 2018 was recorded higher at 5.68 per cent.
Bangladesh was in a comfortable position in view of the inflationary trend over the last few years with the global oil and food prices remaining almost stable.
In his budget speech, Finance Minister AHM Mustafa Kamal said on Thursday, "Extreme poverty dropped from 25 per cent to 11 per cent. Inflation has been kept at a tolerable level despite the sustained high growth rates in our economy."
He said: "The inflation rate during this year is forecasted at 5.5 per cent. Alongside, our goal will be to enhance the competitiveness of all our business sectors, including agriculture, industry, commerce, exports, real estate and services sectors."
The purpose is to reduce poverty, generate employment and attract foreign investment, Mr Kamal added.
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