DHAKA, July 9, 2019 (BSS) – The general point to point inflation rate in June last eased to 5.52 percentage point down from 5.63 percentage point in May due to existence of strong supply side in the market.
“The general point to point inflation rate eased to 5.52 percentage point in June which was 5.63 percentage point in May last,” said Planning Minister MA Mannan today while releasing the monthly consumer price index after the day’s ECNEC meeting held at the NEC Conference Room in the city’s Sher-e-Bangla Nagar area.
Asked about the declining trend of inflation, Mannan said “Although the inflation remains a bit high in the rainy season..but, the supply side of the economy is now much stronger than demand at the moment.”
He said the supply side of main agricultural produces like rice, onion is high in the market compared to the demand.
According to the data of the Bangladesh Bureau of Statistics (BBS), the point to point food inflation, slightly declined to 5.40 percent in June down from 5.49 percent in May.
The BBS data showed that the point to point non-food inflation rate also declined slightly to 5.71 percent in June which was 5.84 percent in May.
Besides, the general inflation rate at the urban level in June declined to 5.78 percent. The general point to point inflation rate at the rural level also declined to 5.38 percent.
At the rural level, the food inflation declined slightly to 5.58 percent in June while the non-food inflation remained same at 5.01 percent in June.
In urban areas, the food inflation stood at 5.01 percent in June. The non-food inflation witnessed a downtrend with 6.64 percent in June which was 6.95 percent in May.
The national wage index rate witnessed a 6.58 percent growth in June with 164.60 points against 6.64 percent growth in May with 163.91 points.
The average year- to-year rate of inflation from July 2018to June 2019 declined to 5.48 percent, which was 5.78 percent from July 2017 to June 2018.