Finance Adviser Salehuddin Ahmed said on Tuesday that it will take 2-3 more months for inflation to decline as the ongoing government measures have begun to take effect.

“Steps are being taken to contain inflation, with further initiatives planned to stabilise prices during Ramadan. These measures are expected to help bring average inflation down to 6%-7% by June,” he said while talking to reporters after a Cabinet Committee meeting at the Secretariat.

Salehuddin Ahmed said the government has been importing daily essential items intensively to keep their domestic supplies stable.

He said the interim government will not allow shortages of essential products from now on and is importing rice, lentils, fertiliser, liquefied natural gas (LNG), and other products to ease the present crisis.

The imports will start having a trickle-down effect after March, the finance adviser added.

He said that the main challenge facing the government in containing inflation is ensuring the smooth supply and distribution of goods.

The finance adviser also added that the government would review tax regimes during budget revisions in March to ease the pressure of inflation.

However, for now, some VAT hikes, such as those imposed on fruits, are necessary and cannot be withdrawn despite protests from stakeholders, he added.

Salehuddin Ahmed said that the state of the economy last year was even worse than that of Sri Lanka in 2019.

He mentioned that only 12 out of 60 commercial banks are currently functioning properly, while the rest are struggling.

The government is striving hard to improve the economic situation and has achieved notable successes since assuming office in August last year, he added.

According to data from the Bangladesh Bureau of Statistics (BBS), monthly overall inflation has remained above 9% for over two and a half years.

In December, overall inflation stood at 10.89%, while food inflation was recorded at 12.92%. Food inflation had peaked at 14.10% in July 2024.