Inflation inches down in Oct

The point-to-point inflation slightly went down to 6.19 per cent in October from 6.24 per cent in the previous month due mainly to increased supply of winter vegetables in the domestic markets and lower prices of consumer goods and fuel oil in international markets, according to Bangladesh Bureau of Statistics.
Overall point-to-point food and non-food inflation also dropped in the month from that of September, the data released on Tuesday showed.
Planning minister AHM Mustafa Kamal said overall inflation declined in October as winter vegetables started to come in the local kitchen markets.
The lower prices of consumer products and fuel oil in international markets also had an effect on inflation in the country, he said while releasing the data at a press conference after the weekly meeting of the Executive Committee of the National Economic Council at NEC conference room at the planning ministry.
He hoped that the rate of inflation would fall further in November as winter vegetables will fully be available during the month.
Overall inflation in September had increased to 6.24 per cent from 6.17 per cent in August due mainly to price hike of gas and electricity, and an extra expenditure by consumers on the occasion of Eid-ul-Azha.
The point-to-point inflation in October last year was 6.60 per cent.
According to the BBS data, overall food inflation in October dropped to 5.89 per cent from 5.92 per cent a month ago.
The point-to-point non-food inflation in the month also declined to 6.67 per cent which was 6.73 per cent in September, the data showed.
According to the BBS report, the monthly food inflation increased by 0.67 per cent in October compared with that of September because of price hike of rice, pulse, meat, vegetables, milk and dairy products and food products.
On the other hand, the monthly non-food inflation increased by 0.60 per cent in the month compared with that of September because of an increase in the cost for electricity, gas, house rent, furniture and household items, treatment, transport and education materials, the report said.
According to the BBS data, the overall inflation, food and non-food inflation, also declined in both rural and urban areas in the month.
In October, point-to-point inflation in both urban and rural areas stood at 6.91 per cent and 5.82 per cent respectively from 6.96 per cent and 5.86 per cent respectively in the previous month.
The average annual inflation from November 2014 to October 2015 stood at 6.21 per cent which was 7.18 per cent in the previous span of time from November 2013 to October 2014, the data showed.
The government set the target of containing inflation at 6.2 per cent for the current fiscal year 2015-2016.

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