Inflation rises to 5.63pc in May

Staff Correspondent

19 June, 2019 12:00 AM printer

The overall inflation inched up to 5.63 percent year-on-year in May from 5.48 percent in April thanks to higher prices of non-food items ahead of the largest Muslim festival–Eid-ul-Fitr.

  A point-to-point inflation rose for the fifth consecutive month after witnessing a falling trend in October-December quarter of FY’19, according to the latest data of Bangladesh Bureau of Statistics (BBS).

Consumer price index (CPI), however, saw a modest decline to 259.63 points in May from April’s 262.73 percent supported by a 1.18 percent monthly decline in inflation over that in April. 

Planning Minister MA Mannan on Tuesday unveiled the CPI data of BBS at a press conference where BBS Director General Dr Krishna Gayen was present.

  “Inflation rose last month mainly because of a rising trend in non-food inflation ahead of Eid ul-Fitr,” Dr Gayen told reporters.

A rising trend in point-to-point inflation started from January when inflation was 5.42 percent, 5.47 percent in February, 5.55 percent in March and 5.58 percent April. 

A declining trend was found from October to December with 5.40 percent, 5.37 percent and 5.35 percent rates respectively.

In March, non-food inflation edged up year-on-year to 5.84 percent with 0.61 percent monthly inflation, which was 5.64 percent one month ago when monthly food inflation was 0.46 percent.

BBS listed the cost hike of non-food items. It found that clothing, furniture, household items, medicare, transport and some other items got dearer in May over April.

 Food inflation, on the other hand, slipped to 5.49 percent which was 5.54 percent in April with monthly food inflation witnessing a steep fall by 2.31 percent thanks to Boro harvesting season.

Rural general inflation went up to 5.44 percent last month from 5.41 percent in the previous month while urban inflation rose to 5.96 percent from 5.89 percent.

 Rural non-food inflation soared from 4.89 percent to 5.01 percent while urban non-food inflation rose from 6.66 percent to 6.95 percent. Monthly non-food inflation was recorded at 0.53 percent in May for rural area and 0.70 percent for urban areas.