Living cost in Dhaka increased by 6.8% in 2020: CAB

The cost of living in Dhaka city went up by 6.8 per cent in 2020 due to the hike in prices of commodities and services amid the Covid-19 pandemic, according to a report of the Consumers Association of Bangladesh (CAB).

Besides, the price of goods and services increased by 6.31 per cent in the capital last year, it said.

CAB President Ghulam Rahman revealed the report on the cost of living in the capital and other consumer issues at a virtual press conference today.

Apparently, in the last three years, the living expenditure has increased in the capital most in 2020, he said.

In 2019, the living cost was 6.50 per cent and the price of good and services was 6.08 per cent, according to Rahman.

On the one hand, the cost of living has increased, on the other hand, the income of the lower and lower-middle-class people has greatly reduced due to the impact of Covid-19, he said.

As a result, the living standards of lower and lower-middle-class consumers have been affected greatly in 2020, Rahman said.

CAB said it has prepared the report from the collected prices of 114 food items, 22 consumer goods and 14 services from 15 retail markets in Dhaka.

And the living cost has been calculated based on the weight of the products or services that are in the consumer's basket in comparison with the total expenditure of a family, it said.

However, the education, medical care and actual travel expenses have not been included in the calculation, according to the report.