BD struggles with food prices despite grain price fall

Domestic food price inflation remains elevated in low and middle-income countries, including Bangladesh, according to a recent World Bank publication.
The global lender's latest food security update also found that Bangladesh reported 9.6 per cent inflation in December 2023 compared to the same month in 2022.
The inflation rate fluctuated throughout the year, with a low of 7.8 per cent in January and a high of 12.6 per cent in October.
Trends in global agricultural commodity prices show that maize and wheat prices are 29 per cent and 20 per cent lower, respectively, on a year-on-year basis, while rice prices are 39 per cent higher.
The update also notes that Bangladesh imposed an export ban on rice in June 2022, which is expected to conclude at the end of this year.

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