Bangladesh targets 5.6% inflation for new fiscal year

The government is targeting an average inflation rate of 5.6 percent in the upcoming fiscal year.

Finance Minister AHM Mustafa Kamal said this while unveiling a Tk 6.78 trillion national budget on Thursday.

He said: “There has been a recent spike in prices, mainly due to external factors.The causes of inflation at the global level include, among others, rising inflation in trade partners, rising oil prices, depreciation of the taka against the US dollar, the disruption of the global supply chain and the Russia-Ukraine crisis -- all of which are largely beyond our control.”

Internal factors, such as Bangladesh’s recovery from the pandemic, also played a part, the minister added.