Bangladesh’s food inflation rises to 10.22% in April

Despite a slight dip in general inflation to 9.74% in April, food inflation rose to 10.22%, higher than February’s 9.44%. Rural areas faced 9.92% inflation, while urban inflation eased to 9.46%. Addressing persistently high inflation, Bangladesh Bank raised the policy rate to 8.5% to tighten money supply. The IMF projects inflation to remain elevated at around 9.4% in FY24 but decline to 7.2% in FY25, aided by tighter policies and lower global food and commodity prices. However, global financial tightening and domestic vulnerabilities pose risks of prolonged high inflation. source: bdnews24