Inflation rises slightly in February

Inflation rose to 5.31% in February from 5.15% in the previous month due to rise in edible oil and meat prices, according to Bangladesh Bureau of Statistics figures released on Tuesday. Food inflation increased to 6.84% from 6.53% and non-food inflation increased to 3.7% from 3.10%. Planning Minister AHM Mustafa Kamal presented the data at the National Economic Council conference room after a meeting of the Executive Committee of National Economic Council. However, the average inflation rate in last 12 months fell to 5.41% from 6.15% in the same period a year ago, Planning Minister AHM Mustafa Kamal. The price of beef increased with impacts on local food prices. Because of rise in edible oil prices in international market, inflation rate in Bangladesh increased, Mustafa Kamal said. BBS Director General Amir Hossain was also present at the meeting. According to the BBS data, The point-to-point overall inflation rose to 5.14% in rural areas from 4.09% in January. The non-food inflation declined to 2.46% in February from 2.52% in the previous month. In urban areas, the overall inflation rate rose to 5.62% in the point to point basis from the previous month’s 5.57%. Food inflation rose to 7.22% which was 7.11% in the previous month.  Non-food inflation remained same at 3.91%. On the other hand, the index of local wage rate has increased in that period. The general wage rate increased to 6.88% from 6.65%. The farm wages rose to 6. 99% from 6. 70%. The sector-wise wages rose to 6.65% from 6.46%. The rate of wages in the service sector also rose to 6. 80% from 6.77% in the previous month.