June inflation rises to 7.56% on food, fuel prices

Rising inflation continues to hurt consumers as the prices of food and non-food items are soaring because of the Russia-Ukraine war and the ongoing pandemic for over two years.

According to the data released by the Bangladesh Bureau of Statistics (BBS) on Tuesday, the country’s overall inflation reached 7.56% in June, the highest in nine years. In May, Bangladesh’s inflation hit 7.42%.

Food inflation rose faster than non-food, meaning that shoppers had to pay more prices for foods in June. BBS data shows food inflation hit 8.37 percent in June, up from 8.30 percent in May. Non-food inflation climbed to 6.33 percent in June from 6.08 percent in May.

Shoppers paid sharply higher prices for a variety of goods in June as inflation kept its hold on a slowing U.S. economy, the Bureau of Labor Statistics reported Wednesday.

Bangladesh has set a target to keep average inflation within 5.6 percent in the current fiscal year.

Inflation is measured through a basket of food and non-food items related to the cost of living.