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Inflation drops to 5.38pc in Nov

           Inflation soars

Bangladesh’s annual inflation eased slightly in November as prices of both food and other items rose at a slower pace, said a senior official at the Bangladesh Bureau of Statistics on Wednesday.

Consumer prices in November rose 5.38 per cent higher than a year earlier, slowing from an increase of 5.57 per cent the previous month.

Annual food inflation in November inched lower to 5.41 per cent from 5.56 per cent the previous month, while non-food inflation dropped to 5.33 per cent from 5.58 percent.

A drop in prices of rice, pulses, spices and vegetables led to the fall in food inflation, the bureau official said.

Average inflation came in at 5.92 per cent in the 2015-16 financial year that ended in June, its lowest in 12 years, largely due to a sharp drop in global commodity prices and good agricultural output in the South Asian country of 160 million people.

The government aims to hold inflation at 5.80 per cent this financial year.

Early this year, the central bank cut its key interest rate by half a percentage point for the first time in nearly three years as easing inflation gave it more room to manoeuvre to help spur economic growth.

Bangladesh’s economy grew 7.11 per cent in the 2015-16 financial year, slightly faster than initially expected.

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