Inflation averages 5.69pc in 2020, a 3yr high
Common inflation rose to a good three-year most of 5.69 % in the just-concluded twelve months as food prices preserved an upward trend for most of 2020.
In December, the common Client Price Index (CPI), however, fell to 5.29 per cent, the cheapest in 47 months, influenced by a substantial drop in food prices.
December's figure was 23 basis points less than the CPI found in November since it fell to its lowest level since February 2017, info from the Bangladesh Bureau of Statistics (BBS) and the central lender showed.
In December, food inflation declined 0.89 percentage details to 5.34 % compared to the previous month.
Non-food inflation increased 19 basis points to 5.21 per cent.
Inflation had continued the upward styles between July and October due to a price hike of rice and vegetables in the wake of crops damaged by floods and rains.
Food inflation began to decrease since November, decreasing the general inflation.
Although the price tag on rice slightly rose last month, other major foods saw a drop.
"This has had an excellent impact on general inflation," said Zahid Hussain, a former business lead economist of the World Bank's Dhaka office.
"Maintaining vigilance is vital that you retain inflation within the monetary focus on. The central lender should continue steadily to monitor to the end."
In December, coarse rice price rose marginally to Tk 52.28 a kg from Tk 52.23 per month ago in market segments in Dhaka, BBS info showed.
The cost of two finer varieties -- najershail/minikat and pajam -- stood at Tk 68.20 and Tk 66.30 a kg respectively in contrast to Tk 68 and Tk 65.68 in November.
Rates of both Moongdal and lentil dropped to Tk 134.30 and Tk 122.50 a kg from Tk 135 and Tk 125 respectively.
Top quality soybean oil became high-priced by Tk 5.13 a litre, based on the BBS.
The price of dried out chilli decreased to Tk 380 a kg from Tk 390 per month ago. It averaged Tk 235 last fiscal calendar year.
The cost of onion dropped to Tk 80.70 a kg from Tk 88.21 found in November.
The nationwide statistical agency said inflation in rural areas was down 0.45 percentage issues at 5.28 per cent from 5.55 % in November.
Food inflation dropped 0.81 percentage points to 5.60 %, and non-food inflation rose 24 basis details to 4.67 %.
Urban inflation declined 44 basis points to 5.31 per cent, led by 1.07 percentage items fall in food inflation, which stood at 4.77 %.
Non-food inflation found in the urban areas rose 29 basis details to 5.93 % in December, BBS info showed.
The federal government has set a 5.4 per cent inflation target in the current fiscal year.
