Bangladesh’s inflation rate dropped to 8.48 percent in June, down from 9.05 percent in May, as both food and non-food consumer prices saw declines, according to data released by the Bangladesh Bureau of Statistics (BBS) on Monday.
This marks the first time since March 2023 that the point-to-point inflation rate fell below the 9 percent threshold.
However, the 2024-25 fiscal year ended with a double-digit moving average inflation of 10.03 percent, much higher than 6.5 percent target set in the FY24 national budget and the revised target of a 7.5 percent inflation.
During the past 27 months, the highest recorded inflation was 11.66 percent in July 2024.
According to BBS data, food inflation fell to 7.39 percent in June this year, from 8.59 percent in May, while non-food inflation modestly declined to 9.37 percent last month, from 9.42 percent in May.
In a facebook post on Monday, Shafiqul Alam, press secretary to the Chief Adviser, said the inflation rate in Bangladesh has been declining speedily thanks to the prudent policies and strategies of the interim government.
He was optimistic that inflation would come down further in the coming months.
In rural areas, general inflation on point-to-point basis dropped more to 8.46 percent in June, which was 9.05 percent a month earlier.
Rural food inflation declined most to 7.14 percent supported by good farm output. In May it was 8.30 percent. But non-food inflation there saw a marginal drop from 9.75 percent to 9.72 percent in a month.
Meanwhile, overall urban inflation fell to 8.94 percent last month from 9.50 percent in May with food inflation declining from 9.29 percent to 7.99 percent and non-food inflation from 9.63 percent to 9.53 percent.