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Bangladesh’s inflation rises to 6.44pc in October, highest in seven years

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Bangladesh’s inflation rises to 6.44pc in October, highest in seven years
Published: November 05, 2020 10:20:53 | Updated: November 05, 2020 18:45:37
Bangladesh’s inflation hits seven-year high


Bangladesh’s point-to-point general inflation rate has increased to 6.44 per cent in October, the highest in seven years, amid the coronavirus (COvid-19) pandemic.
The country had the previous highest inflation of 6.78 per cent by the end of 2012-13 fiscal year, reports bdnews24.com. A higher rise in rural inflation rate compared with the urban one and the increase in food inflation to 7.34 per cent escalated general inflation last month, according to data published by the Bangladesh Bureau of Statistics on Wednesday.

In rural areas, inflation was 6.67 per cent while the rate was 6.3 per cent in urban areas. In September, general inflation was 5.97 per cent and food inflation 6.5 per cent.
“It was bound to happen because the prices of all the commodities in the market have gone up,” said analyst Ahsan H Mansur. He identified government efforts to ensure easy flow of cash amid the pandemic as a reason behind the rise in inflation.

Even Bangladesh Bank warned of the risks associated with the release of the credits from the coronavirus stimulus package that aims to help the private industries soften the blow of the pandemic crisis in order to prevent job cuts. The central bank said in a report by the end of September that a range of expansionary fiscal and monetary policies are likely to boost economic activities in full swing in the near future. “Extraordinarily easy financing conditions may pose upside risks for price stability in the coming quarters,” the report added.

 

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Prices of essential commodities remain high
Staff Correspondent Published: 00:01, Nov 07,2020
Prices of most essential commodities, including rice, remained high on the kitchen markets in the city over the week ending on Friday.
Aubergine sold for Tk 80-90 a kg, papaya for Tk 40 a kg, bitter gourd for Tk 80 a kg, okra for Tk 70-80 a kg, bottle gourd for Tk 50-70 apiece, string beans for Tk 80-90 a kg, beans for Tk 100-120 a kg, radish for Tk 50 a kg, cucumber for Tk 70-80 a kg and tomato for Tk 100-120 a kg on Friday.
The price of green chilli remained high and the item sold for Tk 200 a kg on the day.
The prices of rice remained high on the markets in the capital.
The BR-28 variety sold for Tk 54-55 a kg. The standard variety of Miniket rice sold for Tk 56-58 a kg and the fine variety sold for Tk 6065 a kg.
The fine variety of Najirshail rice retailed at Tk 60-65 a kg and the coarse variety sold for Tk 44-48 a kg.
Broiler chicken sold for Tk 125-135 a kg while locally bred hens sold for Tk 450-500 a kg.
Potato retailed at Tk 45-50 a kg in the city over the week.
The prices of onion also remained high. The local variety sold for Tk 90-100 a kg while the imported variety sold for Tk 70-80 a kg.
The prices of garlic remained unchanged over the week. The imported variety retailed at Tk 90-100 a kg while the local variety sold for Tk 100-120 a kg in the capital.
The imported variety of ginger sold for Tk 220-260 a kg and the local variety retailed at Tk 160-200 a kg.
The price of the coarse variety of red lentil increased by Tk 5-10 a kilogram and the item sold for Tk 75-80 a kg. The fine variety sold for Tk 120-125 a kg and the medium-quality variety for Tk 90-95 a kg.
Unpackaged soya bean oil sold for Tk 92-98 a litre and palm oil sold for Tk 85-90 a litre.
One litre of bottled soya bean oil sold for Tk 108-110 while five litres of packaged soya bean oil sold for Tk 490-540 on Friday.
Beef sold for Tk 550-560 a kg while mutton sold for Tk 800-900 a kg in the capital.
The price of eggs remained high with four pieces selling for Tk 38-40.
The prices of fish remained unchanged over the week.
Rohita sold for Tk 260-350 a kg and Katla for Tk 250-350 a kg, depending on size and quality.
Pangas sold for Tk 130-180 a kg and Tilapia sold for Tk 120-160 a kg.
Fine-quality packaged salt retailed at Tk 35 a kg while the refined variety retailed at Tk 25 a kg.
Refined sugar retailed at Tk 60-65 a kg while the locally produced variety retailed at Tk 70 a kg.

 

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