April inflation rate inches down

The point-to-point inflation rate in April of the current fiscal year (FY) slipped to 5.63 per cent, compared with 5.68 per cent recorded in March last, the government has said.

The rate was recorded at 5.47 per cent in April of FY2017, according to the Bangladesh Bureau of Statistics (BBS) data.

Planning Minister AHM Mustafa Kamal unveiled the inflation data Tuesday after the meeting of the Executive Committee of the National Economic Council (ECNEC).

The inflation rate was declining gradually and it would remain within the budgetary target and the limit envisaged in the 7th Five Year Plan, he told reporters.

The minister noted that the prices of locally-produced and imported commodities as well as essential items are on the decline. "Hopefully, the inflation rate will come down within 5.50 per cent at the end of the current fiscal."

Inflation on the monthly-basis increased by 0.08 per cent as the Consumer Price Index (CPI) rose to 248.85 in April from 248.65 in March.

According to the national statistical agency, the point-to-point inflation rate in both food and non-food items also dropped last month.

The food inflation was recorded at 7.03 per cent in April, down from 7.09 per cent in March. The noon-food inflation also fell to 3.49 per cent last month, compared with 3.51 per cent in March.

The inflation in both urban and rural areas in Bangladesh also dropped in the month of April. The inflation in rural areas decreased to 5.59 per cent in April, compared with 5.63 the month before.

In the urban areas, the inflation rate inched down to 5.70 per cent in April from 5.76 per cent in March. However, the average inflation rate in the 12 months to April edged up by 0.45 percentage points to 5.83 per cent, the government said.

The inflation rate between May 2016 and April 2017 was recorded at 5.38 per cent.

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