DHAKA: Bangladesh’s inflation went up 16 basis points to 5.31 percent last month due to a rise in the prices of food items, especially beef and edible oil.
Food inflation crept up 31 basis points to 6.84 percent in February, according to Bangladesh Bureau of Statistics.
The price of per kilogram of beef and per liter of soybean oil rose about 10 percent last month from a year earlier, according to Trading Corporation of Bangladesh. Meanwhile, non-food inflation declined 3 basis points to 3.07 percent.
“Overall inflation rose last month due to a hike in beef and edible oil prices,” said Planning Minister AHM Mustafa Kamal yesterday.
Though inflation is still below the government’s target of 5.8 percent, Bangladesh Bank announced a cautious monetary policy instead of an expansionary one in anticipation of a rise in inflation.
