Inflation drops below target

The rate of inflation in the country stood at 5.92 per cent in 2015-16 financial year (FY16), down by 0.28 per cent of the government fiscal target of 6.2 per cent, according to the latest data of Bangladesh Bureau of Statistics (BBS), reports BSS.
The rate is also lower than the rate of inflation of 2014-15 financial year (FY15) which was 6.35 per cent.
“The country registered down rate of inflation which is also the lowest in the three years. It is the best success of the government as the rate is also lower than the 7th Five-Year Plan,” Planning Minister A H M Mustafa Kamal told the journalists yesterday after ECNEC meeting.
He said the rate of point to point inflation stood at 5.53 per cent in the month of June which was 5.45 per cent in previous month.
“The buying and selling have been increased in June due to the holy Eid-ul-Fitr and Ramadan,” he added.
Apart from the general inflation, the rate of food inflation in national, urban and rural levels also increased in the month.
At the national level, the rate of food inflation in June rose to 4.23 per cent from 3.81 per cent in May. Besides, rate of non-food inflation declined to 7.50 per cent from 7.92 per cent in the previous month.
On the other hand, the rate of inflation at the urban level stood at 7.23 per cent and rural level at 4.63 per cent.
At the rural level, the food inflation increased to 3.44 per cent, from 3.08 per cent in the previous month, while the non-food inflation declined to 6.79 per cent compared to 7.32 per cent in May.
Besides, in the urban areas, the food inflation rose to 6.06 per cent from 5.50 per cent. But, the non-food inflation witnessed a downward trend and it stood at 8.48 per cent as against 8.76 per cent in May.
The national wage index rate witnessed a 6.10 per cent growth in June which was 6.07 per cent in May.