House rent hike fuels inflation further in JanuaryStaff Correspondent
The overall point-to-point inflation increased for the third month in January by 0.15 percentage points to 7.50 per cent from December due mainly to a hike in house rent in the first month of the new year.
Officials of Bangladesh Bureau of Statistics on Wednesday said although food inflation declined in January, rise in the prices of non-food items especially house rent was the main reason for the increase in the overall inflation in the month.
In December, the overall inflation increased by 0.20 percentage points to 7.35 per cent and in November it rose by 12 percentage points to 7.15 per cent amid political unrest that disrupted the supply chain of commodities.
‘The hike in house rent in January was the main reason for the increase in non-food inflation which have impacted on the overall inflation,’ BBS director general Golam Mostafa Kamal said while releasing consumer price index for January on Wednesday.
He said the prices of other non-food items including furniture, household items, medical services, transportation, educational equipments also rose in January.
The BBS data showed that the non-food inflation rate increased by 0.65 percentage points to 5.53 per cent in this January from 4.88 per cent in December last.
The food inflation, however, declined by 0.19 percentage points in January to 8.81 per cent from that of 9.00 per cent in the previous month.
BBS officials said the transportation of commodities returned to normalcy after the tensions on the political front eased. The end to the transportation chain disruption has contributed to food inflation to decrease, they said.
The overall point-to-point inflation in the urban areas was 7.98 per cent in January which was 7.58 per cent in December.
The overall inflation in the rural areas was 7.24 per cent which was 7.22 per cent in December.
The food inflation declined to 8.39 per cent in rural areas in January from 8.63 per cent in December.
The non-food inflation in rural areas was, however, rose to 5.17 per cent in January from 4.69 per cent in December.
In urban areas, the food inflation rate declined slightly in January as it stood at 9.80 per cent, down from 9.89 per cent in December last year.
The non-food inflation rate in urban areas, however, witnessed an upward trend in January as it stood at 6.04 per cent, up from 5.13 per cent in December last.
The national wage index rate also witnessed a 9.16-per cent growth in this January to Tk 8,123.29 from Tk 8,020.88 in December.
comments powered by Disqus
The National Board of Revenue has blamed four mobile phone operators and the telecom regulator for non-cooperation in preparing the final report on settling the Tk 3,062-crore SIM replacement tax claimed from the operators. Full story
Bangladesh’s export to Turkey crossed $1 billion in 2013, said a Turkish government report on Wednesday although Bangladesh Export Promotion Bureau’s data showed that the export earning was about $800 million during the period. Full story
The government on Wednesday appointed the Bureau of Research, Testing and Consultation to supervise the construction works of the effluent treatment plant and dumping yard at the proposed new tannery estate at Savar. Full story
The National Board of Revenue has said interest generated from the wage earners development bonds purchased before July 2011would not be taxable. Officials of the NBR said investors would get the waiver irrespective of their date of cashing. Full story
Chittagong Stock Exchange has submitted a list of 14 individuals including former cabinet secretary Abdul Karim, former NBR chairman Muhammad Abdul Mazid and DU professor Abu Ahmed to the Bangladesh Securities and Exchange Commission for... Full story
Dhaka stocks ended flat on Wednesday with a decline in turnover as late session buying cancelled out profit-taking sales in early trading. The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 4,811.49 points, adding by 0.04 per cent or 1.95 points. Full story
India on Wednesday cheered the appointment of Satya Nadella as the new chief executive of Microsoft, the latest example of an Indian-born exec rising to the top of the US corporate world. Nadella, who became the... Full story
The Dhaka Stock Exchange on Wednesday halted trading of the shares of Pharma Aids for an indefinite period and issued a show-cause notice to the company after officials of the company obstructed DSE officials to conduct a visit to its (company) premises. Full story
Indonesia’s economy, Southeast Asia’s biggest, grew at its slowest pace in four years in 2013, data showed Wednesday, but beat expectations and showed signs of improvement despite being hard hit by emerging market turmoil. Full story
Khalilur Rahman Chowdhury has recently been appointed as a deputy managing director of Rupali Bank, said a news release. Prior to his new assignment, he was a general manager of Bangladesh Development Bank. Full story
Dimitar Berbatov said on Tuesday that a recommendation from his former Manchester United colleague Patrice Evra convinced him to join Monaco on loan at the end of the January transfer window. The Bulgarian striker joined... Full story
Sajjad Hussain has recently joined AB Bank as its deputy managing director, head of operations and chief risk officer, said a news release. Prior to his new assignment, he was serving Dhaka Bank as a deputy managing director and... Full story
The yen got a boost in Asian trade Wednesday after a global stock market rout spooked investors ahead of key US jobs data. At midday in Tokyo, the dollar bought 101.27 yen, weakening from 101.64 yen on Tuesday in New York. The euro was mixed at $1.3516 and... Full story
Oil prices extended gains in Asian trade Wednesday as frigid weather in the United States bolstered demand for heating fuel, analysts said. US benchmark West Texas Intermediate for March delivery rose 44 cents to $97.63 in afternoon trade while Brent North Sea crude for March added 24 cents to $106.02. Full story
S Alam Cold Rolled Steels Trading of the shares of the company will be allowed only in the spot market and block/odd lot transactions will also be settled as per spot settlement cycle with cum benefit from February 06, 2014 to February 10, 2014. Trading of the shares of the company... Full story