Overall inflation falls in August, food prices rise

In August this year, Bangladesh’s overall inflation slightly declined to 8.29 percent, marking the lowest level for the month of August in the past three years. In July, the rate stood at 8.55 percent.

However, food inflation rose marginally to 7.60 percent in August, compared with 7.56 percent in July.

The information was released on Sunday (September 7) by the Bangladesh Bureau of Statistics (BBS).

According to BBS data, overall inflation in August was 9.52 percent in 2022, 9.92 percent in 2023, and 10.49 percent in 2024.

Inflation for non-food items fell to 8.90 percent in August, down from 9.38 percent in July. In the same month last year, it was 9.74 percent.

Meanwhile, the wage growth rate for low-income skilled and unskilled workers decreased slightly to 8.15 percent. As wage growth has remained below inflation for 43 consecutive months, the purchasing power of low-income households is further shrinking.

The BBS report noted that with inflation outpacing wage increases, the cost of living pressures on low-income people are intensifying.