Kamal says inflation to remain around 6pc

Finance Minister AHM Mustafa Kamal expected that the annual average inflation in the next fiscal year of 2024 would remain around six percent.

"Due to the decrease in the prices of fuel, food, and fertilizer in the global markets, along with the adjustment of fuel prices in the domestic markets and government initiatives to keep the food and supply systems normal, the inflation will remain much controlled in the next fiscal year and the annual average inflation is expected to stand around 6.0 percent," he said.

Kamak came up with the anticipation while placing the proposed budget for 23-24 fiscal year at Jatiya Sangsad on Thursday.

It is mentionable that the rate of inflation was 12.3% in the fiscal year 2007–2008, he claimed, adding that despite the global economic recession and an increase in food and fuel prices over the previous 14 years, the government was able to control inflation. 

The average inflation rate for FY22 was 6.75 percent while the average rate of inflation even during the previous fiscal year was 6.15 percent.

"Although the inflation increased due to the Russia-Ukraine war, the government has been making an all-out effort to check the inflation and mitigate its impact on the people," he added.

/MHK/