Inflation crosses 9% for the first time in nine months

Inflation crossed 9 percent in February, for the first time in nine months, showing a worsening of the purchasing power of consumers, especially among the poor and low-income groups.

In February, the Consumer Price Index (CPI), a measure of the prices of a basket of goods and services, stood at 9.13 percent, up from 8.58 percent in January, driven largely by a rise in food prices, according to data released by the Bangladesh Bureau of Statistics (BBS) today.

Food inflation climbed to 9.30 percent in February from 8.29 percent in the previous month, reflecting higher prices of essential commodities in local markets.

Non-food inflation also rose during the month, reaching 9.01 percent from 8.81 percent in January, indicating continued price pressures in sectors such as housing, transport, clothing and healthcare.

Bangladesh has been struggling with persistent inflation for more than three years, squeezing the wallets of consumers. Inflation moderated slightly in recent months, but the 12-month annual average rate remained above 8.5 percent in January even though Bangladesh Bank maintains a hawkish monetary policy.