Food Inflation Surpasses 14% in November

Staff Correspondent

Despite repeated interest rate hikes to curb inflation, the benefits are not being felt in the daily essentials market. Inflation, which has been steadily rising, increased further in November, reaching 11.38%. However, food inflation is much higher.

In November, food prices surged due to rising costs of nearly all food items. The point-to-point food inflation also increased during this period, with urban areas experiencing a higher impact.

According to a report published by the Bangladesh Bureau of Statistics (BBS) on Thursday, food inflation in November was 13.8%. In urban areas, this rate was 14.63%, while in rural areas, it was 13.41%.

BBS’s updated report indicates that food prices were the main contributor to the overall inflation in November.

For example, a food product that cost 100 taka in urban areas in November last year would now cost 114.63 taka in the same month this year. In rural areas, the same product would cost 113.41 taka.

In October, point-to-point food inflation was 12.66%.

The BBS report also mentions that in November, overall inflation increased to 11.38%. This means that a product or service that cost 100 taka in November last year would now cost 111.38 taka.

In comparison, the overall inflation rate in October was 10.87%, meaning it increased by 0.51 percentage points in November compared to October.

In November, inflation in non-food items also rose to 9.39%, up from 9.34% in October.

According to BBS data, wages slightly increased in November, rising by 8.10% compared to 8.07% in October.