The point-to-point inflation climbed to 7.04 per cent in July from 6.97 per cent in the previous month as prices of essential items were spiked amid hot sales during the lunar month of fasting, officials said.
Bangladesh Bureau of Statistics (BBS) data, released Tuesday in Dhaka, showed that the inflation on point-to-point basis on account of non-food items was recorded a little higher at 5.71 per cent last month compared to 5.45 per cent in June.
The food inflation, however, was a little down at 7.94 per cent in July compared to 8.0 per cent recorded in the previous month, the BBS data showed.
Planning Minister AHM Mustafa Kamal at the Planning Commission Tuesday said since the prices of different food and other products on the occasion of the fasting month and Eid-ul-Fitr were showing higher trends, the Consumer Price Index (CPI) took a bit upturn.
BBS Director-General Golam Mustafa Kamal said the higher prices of puffed rice, meat, chicken, spices, fruits and vegetables, and milk and milk products had affected the CPI.
The general CPI on the pint-to-point basis in July increased to 199.94 from 196.86 in the previous month, June.
According to the BBS, inflation in the rural areas had shown higher trends in July as it was recorded 6.93 per cent. In June, the inflation was 6.73 per cent.
In the urban areas, the inflationary trends last month were lower as it was recorded 7.24 per cent. In the previous month of June it was recorded 7.42 per cent.
The Planning Minister, Mr Kamal, said they are not worried about the slight hike in the inflation last month.
"If the overall inflation in Bangladesh is maintained within 7-to-7.50-percent limit, there is nothing to worry for the economy," he said.
In the current FY2015, the government has targeted to cage the inflation within a limit between 7 and 7.50 percent.
Bangladesh was hard hit by the inflationary pressures in 2010-11 period with the point-to-point inflation having crossed the double-digit mark from a cool 7.54 percent rate in November 2010, BBS officials said.
