Inflation rises again, crosses 9 percent

Overall inflation in the country crossed the 9 percent mark again in February, the first time in the past nine months. The increase has renewed concerns for ordinary consumers.

According to the latest data released by the Bangladesh Bureau of Statistics, the overall price index of goods and services stood at 9.13 per cent in February. The rate was 8.58 per cent in January.

The main reason behind the increase in inflation was the rising prices of food items. According to the BBS data, food inflation was 8.29 per cent in January and rose to 9.30 per cent in February.

As a result, the prices of rice, pulses, edible oil, vegetables and other daily essentials have increased, raising the cost of living for ordinary people. Low and middle-income families have been particularly affected.

Inflation in non-food items has also increased. It was 8.81 per cent in January and rose to 9.01 per cent in February.

Expenses in housing, transport, clothing and healthcare sectors have continued to rise, adding further pressure in these areas.

Economists say persistent high inflation is reducing people’s real income and significantly weakening the purchasing power of poor and low-income groups.

High inflation has persisted in the country for more than a year. Although some downward trend was observed in recent months, the 12-month average inflation in January still remained above 8.5 per cent.

In this situation, despite the Bangladesh Bank following a contractionary monetary policy, market price pressures have not yet been fully controlled.

Analysts say strengthening the supply system, reducing import costs and intensifying market monitoring are essential to control inflation.