Bangladesh inflation soars to 13-year high of 11.66 pc in July

Dhaka: Inflation in Bangladesh accelerated to 11.66 per cent in July, the highest in 13 years, mainly driven by higher food prices, theBangladesh Bureau of Statistics (BBS) announced.

Data showed that it was 9.72 per cent in June. Food inflation soared 14.10 per cent in July, the highest in at least a decade. In June, according to BSS, as announced on Monday, food inflation was 10.42 per cent.

Non-food items inflation also increased to 9.68 per cent in July from 9.15 per cent in June, the data showed, Xinhua news agency reported.

The country's average inflation surged to 9.73 per cent in the fiscal year 2023-24 (July 2023-June 2024), much higher than the budgetary target of 7.5 per cent for the fiscal.

In the previous 2022-23 fiscal year, overall inflation was 9.02 per cent.