TDS Desk

Bangladesh’s inflation rate jumped to a record high at 11.38% in November, 0.51 percentage points higher than the previous month of October and the highest in the last four months, as per the Bangladesh Bureau of Statistics (BBS).

The point-to-point inflation rate climbed to 11.38% in November, up from 10.87% in October hitting the fixed income population the hardest.

The inflation rate was 9.89% in November 2023.

Food inflation surged to 13.8% during the month. The country recorded the highest food inflation of 14.10% in July 2024, the highest since 2013.

Food inflation rate remained high despite import tax cuts for a number of essential items over the last three months.

Core inflation, which excludes volatile food and energy prices, also edged higher, reaching 9.39% in November compared to 9.34% in the previous month.

The inflation, both headline and core, increased in November despite the central bank’s efforts to curb it through tight monetary policy.

Additionally, wage rates slightly increased to 8.10% in November compared to October when it was 8.07%, according to BBS data.

Rural people bore the brunt of increasing prices in November as inflation was 11.53% in those areas.

Urban residents saw 11.37% higher prices last month, according to the BBS, though the government agencies carried out open market sales of certain essential items, including rice through OMS trucks, and import duty cuts for cooking oil, sugar, rice, onion, and potatoes.