Bangladesh’s inflation rate hit a 12-year high in July.
Pakistan’s political instability, hunger and inflation are always topics of discussion around the world, including India. The world also knows how Pakistan’s rulers stand with open arms in front of the IMF, World Bank, China, the US and the rich countries of the Middle East. But there was no such image of Bangladesh in the world.
A few years ago, the economic growth of this neighbouring country of India was even higher than that of the largest countries in the world. But after the overthrow of the government, the situation in Bangladesh seems to have changed completely. The data that has now appeared about Bangladesh has not appeared for more than a decade. Let us also tell you what data has been published thanks to which Bangladesh is compared with poor Pakistan.
Inflation at its highest level in 12 years
Retail inflation in Bangladesh, which has recently faced massive political turmoil, hit a 12-year high of 11.66 percent in the month of July. Local newspaper The Dhaka Tribune, citing data released by the Bangladesh Bureau of Statistics, said that in July, retail inflation hit the highest level in 12 years due to food inflation. The previous high level of retail inflation was 9.94 percent in May.
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How much is food inflation?
Last month, food inflation stood at a record high of 14.10 percent, while non-food inflation stood at 9.68 percent. At the beginning of June, these two stood at 10.42 percent and 9.15 percent respectively. In July, economic activities were affected due to the nationwide student movement. During this period, a curfew was imposed for several days and the Internet was also cut off.
coup in bangladesh
The protesters, who came out to protest against reservation provisions in government jobs, later started demanding the resignation of the government led by Sheikh Hasina. This protest turned violent in early August, following which Hasina had to resign from the post of Prime Minister and leave the country. Sheikh Hasina has now taken refuge in India.
inflation rate in pakistan
What is special is that even in Pakistan the inflation rate is not low. According to statistics, the inflation rate in Pakistan was 12.6 percent in June. The figures for July are not yet known, but a few days ago the State Bank of Pakistan warned that the average inflation rate in the country could reach 11.5 percent in the year 2025. It could reach as high as 13.5 percent due to rising energy prices.
Retail inflation slows in India
On the other hand, retail inflation in India has declined significantly in the month of July. According to the official data released on Monday, the retail inflation rate in the country stands at 3.54 percent. While in the month of June, this figure was over 5 percent. Following the arrival of these figures, the inflation rate in the country has reached its lowest level in 5 years. Incidentally, the country’s central bank, RBI, has estimated inflation in the current fiscal year at 4.5 percent. The RBI is likely to revise its estimates at the October monetary policy meeting.
