Essential commodity prices rise by 4.39% in October

Prices of essential commodities in Bangladesh rose by an average of 4.39 per cent in October, with 15 categories of goods recording price increases. Fish prices saw the sharpest rise, climbing by an average of 11.72 per cent. Prices of seven categories remained unchanged, while two categories became cheaper.

The findings emerged from market data collected by the Consumers Forum (CF) for September and October. The information was disclosed in a press release sent by the organisation’s General Secretary, Emdad Hossain Malek, on Sunday, 8 November.

The report was prepared based on market prices collected through the organisation’s field-level surveys.

According to the report, prices of spices—including cloves, cardamom, cinnamon and cumin—increased by an average of 10.30 per cent in October. The prices of onions, garlic and ginger rose by 7.79 per cent. Fuel oil prices increased by 6.02 per cent, sugar by 4.93 per cent, edible oil and Dalda by 4.80 per cent, flour and refined flour by 3.25 per cent, and rice by an average of 2.62 per cent.

During the same period, egg prices rose by 1.42 per cent, meat by 0.38 per cent and tea by 0.14 per cent.

Prices of seven categories of products remained stable in October. These included salt, dairy products, toothbrushes and toothpaste, chanachur and biscuits, medicines from 11 commonly used brands, and notebooks and pens.

Meanwhile, vegetable prices fell by 3.12 per cent, while gold and silver prices declined by 4.77 per cent.

Citing data collected from markets in Jashore, Bogura and Rangpur, the report attributed the decline in vegetable prices to the arrival of winter produce in the markets. However, growers said they were unable to recover even their production costs from selling vegetables.

According to the report, each cauliflower and cabbage was selling for Tk6 to Tk12 in Bogura and Rangpur, radishes for Tk6 to Tk8, each bottle gourd for Tk8 to Tk10, and four bananas for Tk5 to Tk8.

The same vegetables were selling at considerably higher prices in Dhaka. Each cauliflower and cabbage cost Tk50, papaya Tk30, radish Tk30, bottle gourd Tk60, and four green bananas Tk40 to Tk50.

The CF report said essential commodity prices had risen by 3.13 per cent in September and climbed by a further 4.39 per cent in October. According to the organisation’s calculations, prices increased by a cumulative 7.52 per cent over the two months.

The organisation warned that continued price hikes could fuel public frustration. It said raising salaries and allowances alone would not be enough; rents for homes and shops in cities and towns, as well as education, healthcare and other essential living costs, must also be kept within the reach of middle- and lower-middle-income households.

The CF also called for effective measures to rein in businesses making excessive profits, suggesting that legal action should be taken where necessary to keep the cost of essential goods within consumers’ purchasing power.

The organisation expressed hope that the government would strengthen market monitoring to keep both farm-gate and retail prices of agricultural produce at reasonable levels. It also urged the authorities to consult market experts and take lawful measures to ensure that essential commodities remain affordable.

The report was compiled using price information collected directly from Karwan Bazar, Rampura, Meradia, Bhuiyan Bazar in Aftabnagar, Meena Bazar and Shwapno supermarkets in the capital.