Inflation falls to 8.29% in August, lowest in 3 years

The country’s inflation rate eased slightly in August this year, reaching its lowest level in over three years. On a point-to-point basis, overall inflation fell to 8.29% in August, compared to 8.55% in July.

However, food inflation rose slightly, reaching 7.60% in August, up from 7.56% in July.

The Bangladesh Bureau of Statistics (BBS) reported this information on Sunday (September 7). According to BBS, inflation in the general category was 9.52% in August 2022, 9.92% in August 2023, and 10.49% in August 2024.

Based on BBS data, inflation fell by 0.26 percentage points in August compared to July of this year. Compared to last year, overall inflation in August dropped significantly from 10.49%.

On the other hand, food inflation increased to 7.60% in August from 7.56% in July. In August 2024, food inflation stood at 11.36%.

Non-food inflation fell to 8.90% in August, down from 9.38% in July, while last year in August it was 9.74%.

Meanwhile, the wage growth rate for low-income skilled and unskilled workers declined slightly to 8.15%. As a result, for 43 consecutive months, wage growth has lagged behind inflation, intensifying the cost-of-living crisis for lower-income families. Without wage increases keeping pace with inflation, their purchasing power continues to decline.