Bangladesh’s inflation expected to ease to 6.6% in FY2024: ADB

The Asian Development Bank (ADB) has projected that Bangladesh's inflation will ease to 6.6 percent in the current fiscal year.

The global lender came up with the projection in its updated report on "Asian Development Outlook (ADO) September 2023" released today.

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Food inflation surges to 12.54% in August 

"Inflation is expected to ease from 9.0 percent in FY2023 to 6.6 percent in FY2024 with some fall in global nonfuel commodity prices, expected higher agricultural production, and the initial tightening of monetary policy under the new framework," it said.

ADB Country Director Edimon Ginting said, "The government is managing relatively well against the external economic uncertainties, while advancing infrastructure development and critical reforms to improve investment climate."

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Is monetary policy helping contain inflation?

"These key structural reforms include to strengthen public financial management, enhance domestic resource mobilization, improve logistics, and deepen financial sector, which are critical for private sector development, export diversification and productive job creation in the medium term," said Ginting.

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Inflationary pains for common people to persist

"Continued high oil prices also provide a good incentive to accelerate reforms to expand domestic renewable energy supply and achieve the country's climate change goals."