Inflation continued to decline in Bangladesh in February at 9.32%, compared to 9.94% the previous month. Bangladesh Bureau of Statistics (BBS) data showed such a decline in inflation rate is a relief for consumers as the overall price rise is slowing down. The numbers suggest that efforts to control inflation are starting to work, offering hope for further improvement in the future. The biggest decrease was in food inflation, which dropped to 9.24% in February, down from 10.72% in January. That improvement provides some relief for consumers as the prices for food, which have been rising rapidly, are now advancing at a more moderate pace. While food inflation fell, non-food inflation, which includes rent, transport and clothing, edged up to 9.38% in February from 9.32% a month earlier. The rise, though small, indicates that non-food prices are still putting pressure on people’s budget.
This is a positive sign, since last year, inflation in Bangladesh was very high, hitting 12.92% in December and 13.8% in November 2023. February’s numbers mark the second time in four months that inflation has dropped below 10%, the last time being September 2023, when it was quoted as 9.92%. Food inflation has eased, but the overall rise is still hitting everyday life. But the decline in food prices is a glimmer of hope that inflation could keep moderating in the months ahead.
Source: The Business Standard
