Rising prices hurt the poor, forcing cuts to necessities and increasing poverty in Bangladesh.
“Steps taken by the government so far failed to bring down prices of essential commodities,” said CPD Executive Director Fahmida Khatun
Three advisers to the interim government of Bangladesh will meet today to discuss solutions for taming inflation, which remains high even though several initiatives have been implemented to this end.
Govt has been able to stabilise the market situation
There have been reports of increase in food prices in domestic markets during the post-election weeks
The timing of the visit, amidst labour unrest and pre-election volatility, is particularly significant.
Why have the price hikes not pushed regular citizens into action, fuelled by anger?
In his budget speech for FY2023-24 at the national parliament today, Kamal said inflation would be largely controlled from here on.
Even though poor people are struggling to make ends meet amid runaway inflation, the government allocation for social safety net programmes may not increase much in the next fiscal year.
Nothing but their own voices reaches them
Most of the listed banks in Bangladesh had to keep higher provisions in the first half of 2022 owing to the bearish trend in the share market and the removal of the relaxed loan classification policy that sent bad loans higher.
The record fuel price hike last week has thrown a spanner in the works to the finance division’s projection of bringing the twin problems of inflation and delicate foreign currency reserves under control by December.
Inflation is pinching our wallet. No matter how much you earn every month, the effect of high inflation is squeezing your purchasing power. People around the globe are now saving less than before, because it is becoming difficult for so many of us to just meet the necessary expenses; prices of gasoline, food, and housing are all soaring high. During this time of economic crisis, try becoming a smart shopper to mitigate the negative impact of inflation on your quality of life.
Inflation bucked its runaway trend in July, becoming the third data point this month after remittance and import to provide some relief to a government on its toes about the direction the economy was taking.
The local currency yesterday depreciated further against the US dollar, hitting Tk 92 for each greenback in the interbank platform.
The local currency today depreciated further against the US dollar, hitting Tk 92 against each green back in the interbank platform.
Policymakers will find it tough to bring some sort of a balance between targets to ensure economic growth while containing inflation in the next fiscal year, economist Zahid Hussain said yesterday.
The government has ramped up its measures to contain the pressure on foreign currency reserves and inflation, drafting an action plan to discourage non-essential imports and bring relief to the poor and the vulnerable from the spiralling cost of living.
