Bangladesh’s inflation soars to four-month high in November

Dhaka: According to a report from the Bangladesh Bureau of Statistics (BBS) on December 5, inflation in Bangladesh rose to 11.38% in November, the highest level in four months, primarily due to increasing food prices. This figure compares to 10.87% in October.

Specifically, food inflation experienced a significant increase, reaching 13.80% in November, up from 12.66% the previous month. Non-food inflation also rose slightly, from 9.34% in October to 9.39% in November.

For the fiscal year 2023-24 (July 2023 to June 2024), the average inflation rate has climbed to 9.73%, well above the government’s budget target of 7.5%. In the previous fiscal year, 2022-23, the overall inflation rate was recorded at 9.02%.