Staff Reporter :
Food inflation in the country spiked to 15 percent in December, driven primarily by soaring prices of fish and poultry chicken, according to a recent report by the Bangladesh Institute of Development Studies (BIDS).
Binayak Sen, Director General of BIDS, revealed that the rise in food prices, especially a 20 percent increase in fish prices, played a significant role in this high inflation rate.
Poultry chicken prices also saw substantial hikes, further intensifying inflationary pressures.
This data contrasts with figures from the Bangladesh Bureau of Statistics (BBS), which reported a national food inflation rate of 9.58 percent in December.
The BIDS report suggests a more severe impact on the purchasing power of the low- and fixed-income classes than what is reflected in official statistics.
The findings were disclosed at an event at the BIDS office in Agargaon on Thursday. Sen explained that BIDS employed a specialized methodology to calculate inflation, independently collecting data from all 64 districts across the country.
This approach provided a comprehensive view of the inflationary pressures facing consumers nationwide.
During the event, Sen highlighted the implications of this sharp price increase, particularly for low-income individuals who are disproportionately affected.
He emphasized the urgency of addressing these inflation challenges to ensure the well-being of vulnerable segments of society.
Furthermore, Sen urged the government to expand the coverage of social safety nets during this challenging time as real wages for agricultural and garment workers have seen significant declines.
Meanwhile, according to BBS data based on the consumer price index, which covers 383 items with 749 varieties of goods and services, inflation has remained above 9 percent for the 13th consecutive month since March 2023.