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Inflation may reduce from April

Planning minister says

Published : 22 Mar 2023 02:46 AM | Updated : 22 Mar 2023 01:44 PM

Planning Minister MA Mannan on Tuesday said that the country's overall inflation may reduce from April this year as supply of products will increase during the time.

He made the statement while briefing to the reporters after attending the Executive Committee of the National Economic Council (ECNEC) meeting on Tuesday at the NEC conference room in the city's Sher-e-Bangla nagar.

The Planning Minister said inflation may rise in March as dry season and stock of commudities by the consumers ahead of Ramadan.

"We feared that inflation rate may incresse in the country as conumers were tZ`ried to stock essential commudities ahead of Ramadan. Inflation may also rise due dry season preveilling in the country," he said.

However, Mannan said the inflation may decline from April.

"In our country, consumers always stock essential like edible oil, onion, sugar and others before the Ramadan. So the commudities price up during the holy month," he added.

About overall economy of the country, Planning Minister said the economy is now satable comparing last two months.

"Our reserve, export, remittance are right track. So our overall economy is stable now," he added.

However, The country's point-to-point inflation rate went up by 0.21 percentage points in February to 8.78 percent despite reducing commodity prices in the global market. 

The inflation keep remain more than 8 percent for the past seven months, according to Bangladesh Bureau of Statistics (BBS) data.

However, the inflation rate declined to 8.57 percent in January from 8.71 percent in December.

The overall inflation rate stood at its highest point in a decade in August last year amounting to 9.52 percent.

The rate has continuously decreased over the past few months.

It stood at 8.91 percent in October and continuing to drop in the following months.

In January, the food price index declined to 7.76 percent from 7.91 percent in December, while the price index for non-food items dropped to 9.84 percent from 9.96 percent during the same period.

The United Nations index of food-commodity costs eased by 0.6 percent in February. It was down for the 11th month, which is the longest run of losses reported in the last three decades.

In urban areas, the overall inflation rate increased to 8.75 percent in February from 8.39 percent in the previous month.

The food price index hiked to 7.98 percent from 7.41 percent during the same period, while the non-food item price index jumped to 9.61 percent from 9.48 percent.

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