Food prices perish people as govt takes over afresh
Food inflation soars by nearly double digit in urban areas07 March 2014
Business Desk :
Food inflation in the country soared at 8.84 percent in February, which was 8.81 percent in January -though the general inflation rate slightly declined to 7.44 percent in February from 7.50 percent in January 2014.
The general inflation in this season is higher, comparing to 7.84 percent in February 2013.
The country experienced an upward swing in food prices in the second month after the government took office. Bangladesh Bureau of Statistics (BBS) has attributed it to the rise in cost of food production.
"Inflation beyond food prices has come down to 5.37 percent from 5.53 percent during the period," said BBS Director General Golam Mostafa Kamal while releasing the monthly Consumer Price Index (CPI) at the BBS auditorium on Thursday.
He said the overall inflation was well under control though the food inflation rate slightly went up due to price-hike of rice, pulse, wheat, fish, egg, meat, edible oil and milk-powder.
Kamal hoped the government could attain the target of controlling inflation in the financial year (2013-14) if the current inflation trend is contained within the present level.
The BBS director general said non-food inflation rate also declined to 5.37 percent in February, down from 5.53 percent in January this year.
"Plenty of stock and smooth supply chain of commodities as well as stability in the country has helped to pull down the inflation," he said.
In urban areas, the general point-to-point inflation rate was 7.97 percent in February whereas the rate was 7.17 in the rural areas.
The general inflation in urban areas in January was 7.97 percent while 7.24 percent in rural areas.
The food inflation increased in rural areas in February to 8.42 percent, up from 8.39 percent in January.
The non-food inflation in rural areas was found declining as it was 4.92 percent in February compared to 5.17 percent in January 2014.
In urban areas, the food inflation rate slightly increased in February to 9.84 percent from 9.80 percent in January.
However, non-food inflation rate in urban areas witnessed downtrend in February as it stood at 5.99 percent as against 6.04 percent in January 2014.
The point-to-point national wage index rate also went up to 9.23 percent in February, which was 9.16 percent in January this year.