Inflation in Bangladesh: 9.5% in Aug, highest in 12 years

ZOOMBANGLA DESK: Bangladesh witnessed a record 9.5 percent inflation in August, the highest in 12 years, due to adverse effects of fuel price hike, said Bangladesh Bureau of Statistics (BBS).

However, despite record inflation in August, it was possible to rein it in September. Inflation was 9.1 percent in September.

Planning minister MA Mannan blamed the Russia-Ukraine war and the unstable world situation in recent months for high inflation.

Read: Can’t bring inflation or prices down with violence: Planning Minister

He told UNB that inflation would go down this month as essential commodities’ supply has increased due to strengthened supply chain.

In reply to a query, the Planning Minister said, “Inflation is decreasing. It has become possible to rein in the wild horse of inflation. The inflation rate will decrease further.”

“Soybean oil prices are also falling now. New crops will grow. As a result of the skyrocketing fuel prices, all products now cost more all over the world,” Mannan said.

Meanwhile, BBS has not officially released the inflation data for the month of August even though the month of September has passed.

BBS usually releases inflation data for the previous month in the first week of the new month. In the first week of September, BBS prepared and sent the inflation data to the Ministry of Planning.

Also read: Bangladesh Bank raises repo rate to control inflation

But the government’s high-level ‘green signal’ was not received. As a result, neither the Ministry of Planning nor the BBS has released the inflation data for the month of August.

Secretary of Statistics and Information Management Department Dr. Shahnaz Arefin said, “I sent the inflation information to the minister yesterday. We have not received the file back yet. So I can’t say anything without approval.” (UNB)