Photo: Collected-
Metropolis Report –
The Bangladesh Bureau of Statistics reports that in May, Bangladesh’s inflation spiked to 9.94 percent, the highest level in the previous ten years.
The Consumer Price Index rose 9.52 percent in August of last year, marking the previous high in recent memory.
In May, food inflation increased by 40 basis points to 9.24 percent. In April, it was 8.84 percent. Inflation outside of food increased as well; it was 9.96 percent last month, up from 9.72 percent in April by 24 basis points.
Since the start of the Russia-Ukraine conflict, which worsened the supply chain disruptions caused by the coronavirus epidemic and resulted in a worldwide energy crisis, Bangladesh has been experiencing high inflation rates.
The rise in import costs, the energy crisis, the US dollar crisis, and market flaws all played a role in the elevated level of consumer prices at home.
