Bangladesh inflation plunges to over four-year-low of 5.03 pct

Bangladesh's inflation plunged to a more than four-year low of 5.03 percent in December, data from the Bangladesh Bureau of Statistics (BBS) showed Wednesday.

Inflation in December eased to its lowest since July 2012 when the country had registered lowest inflation rate of 5.01 percent.

Bangladesh's inflation in December last year eased as both food and non-food prices ebbed.

On a point-to-point basis, the official who declined to be named told Xinhua that December inflation dropped to 5.03 percent, lowest in last 53 months, from 5.38 percent in November.

The BBS data showed the country's food inflation in December dipped to 5.38 percent from 5.41 percent in November.

Non-food inflation was 4.49 percent in December against 5.33 percent in November, the data showed.

The BBS official said feeble market demand caused by a slight decline in inflow of remittances contributed to some extent to the steady fall in non-food prices since June last year.

He further said food inflation continued to ease since November mainly as the arrival of winter crops and different food items especially vegetables cooled down prices.

Bangladeshi Planning Minister AHM Mustafa Kamal earlier said political stability played a major role in easing inflationary pressures in the country.

Bangladesh's inflation during the 12 months of the last 2015-16 fiscal year (July 2015-June 2016) eased to 5.92 percent.

The country's average inflation in the previous 2014-15 fiscal year (July 2014-June 2015) reached 6.35 percent. Endit