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Average inflation in 2018 declines to 5.55pc

BBS data shows

FE Report | January 03, 2019 00:00:00

The average inflation in the country was at 5.55 per cent in the last calendar year (2018), thanks to the stable commodity markets at home and abroad.

Bangladesh Bureau of Statistics (BBS) data, revealed on Wednesday, showed that the 12-month average inflation rate was recorded at 0.15 percentage points lower to 5.55 per cent in 2018 from that of 5.70 per cent in 2017.

Meanwhile, the point-to-point inflation rate also dropped slightly to 5.35 per cent in December 2018 compared to that of 5.37 per cent in the previous month, according to the official data.

In December 2017, the point-to-point inflation rate was 5.83 per cent, BBS noted.

Planning Minister A H M Mustafa Kamal unveiled the inflation data at the Planning Commission in the capital.

He told a press briefing that as the prices of various commodities, including fuel oil and sugar, were lower in the global market, the inflationary trend in Bangladesh had been stable.

"The price of fuel oil dropped by 18 per cent, crude oil by 11 per cent and sugar by 10 per cent in the international market. So, the domestic market also witnessed stability last year."

Mr Kamal also projected that the average inflation in the current financial year (FY), 2018-19, will remain within 5.5 per cent trajectory.

The government has targeted to keep the inflation within 5.56 per cent limit in the current FY.

Of the point-to-point inflation in December, the food inflation dropped slightly to 5.28 per cent, while the non-food inflation rate declined to 5.45 per cent, the BBS data showed.

In November 2018, the food inflation was recorded at 5.29 per cent, while the noon-food inflation was at 5.49 per cent.

In the rural areas, the point-to-point inflation in last month was stable, as it was recorded at 4.91. In November, the inflation in the village areas was also the same.

According to the BBS data, the inflation in the urban areas dropped to 6.14 per cent in December. In the previous month, the point-to-point inflation in the urban areas was 6.21 per cent.

Meanwhile, the BBS also unveiled the wage rate index (WRI) on Wednesday. It showed that WRI dropped to 6.18 per cent in December 2018 from that of 6.26 per cent in the previous month.

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