After the highest pick of inflation rated 5.56 per cent in April, it declined to 5.26 per cent in May due to lower prices of some basic food items, including rice, fish and vegetables. In May last year, it was 5.35 per cent.
Planning Minister MA Mannan said non-food item prices were higher in May but food prices were lower.
On the other hand, the Bangladesh Bureau of Statistics (BBS) report said that inflation in food prices came down 4.87 per cent in May. Food inflation was 5.57 per cent in April while it was 5.09 per cent in May last year.
Non-food inflation rose to 5.86 per cent in May from 5.55 per cent in April. In May last year, it was 5.75 per cent.
Professor Selim Raihan, executive director of the research firm South Asian Network on Economic Modeling defied whether BBS inflation data reflected real market conditions.
Even if inflation falls slightly, it will not bring much relief to the people as their earnings have gone down due to various reasons, including the pandemic, he explained.
“There was a complete lockdown in May last year. People did not go out much and the supply of food items, including vegetables, also declined. People bought less. This could be a reason why food inflation fell,” he said.
Source:
DAILY STAR
