Food inflation in Bangladesh rises to 12.66% in October

Last Updated on November 8, 2024 5:11 am

Average inflation rose to 10.87% in October, from 9.92% in September.

Food inflation soared to 12.66% in October, from 10.40% in September, pushing up general inflation as well.

The overall inflation rose to 10.87% in October, from 9.92% in September, according to the latest data from the Bangladesh Bureau of Statistics (BBS) published today (7 November).

However, non-food inflation eased slightly, declining to 9.34% from 9.50% in September.

Dr Zaid Bakht, former research director of Bangladesh Institute of Development Studies (BIDS), told The Business Standard, “Inflation is influenced by both demand and supply factors. While the government can keep demand within a normal range, but it has limited control over supply, which has led to a rise in inflation.”

To boost supply in the economy, Dr Bakht suggested increasing imports by reducing tariffs and enhancing the supply chain infrastructure to better control food price inflation.