Inflation hurts common people in Bangladesh

The rise in consumption after easing Covid-19 curves has pushed the inflation up hurting common people in the country.

Prices of almost all essentials like rice, egg, wheat, garlic, onion, ginger, and turmeric went up in September due to the impact of inflation, reports UNB quoting Bangladesh Bureau of Statistics (BBS).

Bangladesh witnessed food and non-food inflation for three consecutive months which forces to change habit and lifestyle of people as their income is affected by the pandemic.

Though the government's budgetary inflation rate was fixed at 5.3 per cent, the actual inflation rate rose to 5.59 per cent in September. It means commodity available at Tk 100 in 2020, now sells over Tk 105.

The BBS updated data shows that both food and non-food inflation increased in July, August and September.

In August the inflation was 5.54 per cent. Non-food inflation rose by 6 basis points from the previous month to 6.19 per cent in September while food inflation rose by 5 basis points to 5.21 per cent.

The impact of rising trend of inflation would directly fall on the shoulders of the lower income people, who have been facing reduced incomes since the start of the pandemic.

The inflation has increases globally, including big economies like Canada and the USA. Fuel oil price hike also impacted on inflation and people have to pay more for goods and services.