Average inflation falls by 0.61 per cent in 2014

The average inflation in the last calendar year (January-December 2014) had fallen by 0.61 per cent to 6.99 per cent from that of 7.60 per cent in the previous year 2013, Bangladesh Bureau of Statistics (BBS) data showed Thursday.
The point-to-point inflation has also been maintaining a downward trend since July this fiscal following a decline of prices of food and some non-food items, the state-owned national statistical body revealed.
The inflation was recorded at 6.11 per cent in December, the BBS data, released by Planning Minister AHM Mustafa Kamal Thursday in Dhaka, said.
In July this financial year (FY) 2014-15, inflation was recorded at 7.05 per cent. Then, it started falling every month subsequently.
The Planning Minister at a briefing Thursday in the Planning Commission said the point-to-point inflation had fallen last month due to fall in prices of food and some non-food items.
According to the BBS data, the point-to-point inflation in December 2013 was 7.35 per cent while it was recorded at 6.21 per cent in November of 2014.
The BBS in its monthly data showed inflation in December last in terms of food prices dropping to only 5.78 per cent, compared to 6.44 per cent in November.
Non-food inflation, however, was recorded higher in December at 6.48 per cent, 0.64 percentage point higher than that of 5.84 per cent in the previous month of November.
The general Consumer Price Index (CPI) on point-to-point basis in December increased to 207.78 from 206.86 in November, BBS data showed.
According to the BBS, the point-to-point inflation in the rural areas had also fallen in December to 5.89 per cent. In November last, inflation in the rural areas was recorded at 6.05 per cent.
In the urban areas, the inflationary trend in last month dropped slightly to 6.50 per cent. In the previous month of November, it was recorded at 6.51 per cent.
The Planning Minister said they are hopeful of keeping the average inflation within the target of 6.5 per cent limit in the current financial year (FY) 2014-15.
In the current FY2015, the government has targeted to hold inflation in check within a limit of 6.5 to 7.0 per cent.
Bangladesh was hard hit by the inflationary pressure in 2010-11 period when the point-to-point inflation crossed double-digit mark from 7.54 per cent rate in November 2010, BBS officials said.
Later, the point-to-point inflation was recorded lowest in September 2012 over the last three years to 4.97 per cent after its peak in the FY2010-11.
Mr Mustafa Kamal also unveiled the point-to-point wage index rate of December which rose compared to the same month of 2013.
Quoting the BBS data, he said the growth of Bangladesh's general wage rate in November last had gone up to 10.02 per cent. In the same month 2013, the wage index stood at 9.00 per cent.
The wage growth, however, fell in December 2014 compared to November (10.32 per cent), BBS data revealed.
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