Bangladesh records highest inflation rate in over a decade
Tags: International News
Bangladesh recently experienced its highest monthly inflation rate in over a decade, with inflation reaching 9.94 percent in May.
An overview of the news
This rate is the highest since 2010-11 when it was recorded at 10.11 percent.
The data was released by the Bangladesh Bureau of Statistics (BBS).
The increase in inflation is primarily attributed to the rise in both food and non-food prices during this period.
The average inflation rate for the period between June 2022 and May 2023 has risen to 8.84 percent, surpassing the budgetary target of 5.6 percent.
In comparison, the inflation rate in April 2023 was reported at 9.24 percent, and in March, it was 9.33 percent.
These figures indicate higher inflation compared to the corresponding months in April 2022 (6.29 percent) and March 2022 (6.22 percent).
To calculate inflation, the BBS has changed the base index from 2005-06 to 2021-22 and adopted a revised methodology for the compilation of the Consumer Price Index (CPI) based on the latest 2020 CPI manual of the International Monetary Fund (IMF).
People’s Republic of Bangladesh
Prime Minister: Sheikh Hasina Wazed
President: Abdul Hamid
Please Rate this article, so that we can improve the quality for you -