Bangladesh inflation soars to 13-year high of 11.66 pct. in July

Inflation in Bangladesh accelerated to 11.66 percent in July, the highest in 13 years, mainly driven by higher food prices, the Bangladesh Bureau of Statistics (BBS) reported on Monday. Data showed that it was 9.72 percent in June. Food inflation soared 14.10 percent in July, the highest in at least a decade. In June, according to BSS, food inflation was 10.42 percent. Non-food items inflation also increased to 9.68 percent in July from 9.15 percent in June, the data showed. The country’s average inflation surged to 9.73 percent in the fiscal year 2023-24 (July 2023-June 2024), much higher than the budgetary target of 7.5 percent for the fiscal. In the previous 2022-23 fiscal year, overall inflation was 9.02 percent.

Source: Xinhua