In July 2023, the general point-to-point inflation rate in Bangladesh exhibited a slight decline, decreasing by 0.05 percentage points to 9.69 percent, as revealed by the latest data from the Bangladesh Bureau of Statistics (BBS). This marks a continuation of the downward trend observed in June 2023, when the general point-to-point inflation rate stood at 9.74 percent.
This recent data reflects the second consecutive month in which the consumer price index (CPI) has seen a reduction, following a peak in May 2023 when inflation escalated to 9.94 percent.
Despite a marginal uptick in food inflation last month, the overall non-food inflation rate saw a decrease. According to BBS statistics, food inflation rose to 9.76 percent in July 2023 from 9.73 percent the previous month. On the other hand, non-food inflation demonstrated a slight decline, reaching 9.47 percent in July compared to 9.60 percent in June 2023.
Both urban and rural regions experienced a decline in the general point-to-point inflation rate last month. In rural areas, the point-to-point inflation rate for July was recorded at 9.75 percent, down from 9.82 percent in June. Similarly, in urban areas, the inflation rate dipped to 9.43 percent in July from 9.45 percent in June.
The wage rate index witnessed an upward trajectory in July, with an increase to 7.52 percent, up from 7.39 percent in June. This data underscores the evolving dynamics of inflation and economic indicators within the country.
