Many people in Bangladesh believe that the interim government has faced challenges in managing the rising prices of essential commodities compared to the previous Awami League government, says a survey conducted by Voice of America Bangla.
The survey, involving 1,000 participants aged 18 and above from eight divisions across the country, reveales that 44.7 per cent of respondents believe the government has performed poorly in controlling the prices of essential commodities such as rice, fish, vegetables, eggs, meat and oil.
Among the people polled, 23.8 per cent believe the current government is performing better than the previous one. Around one-third of the participants鈥�30.8 per cent鈥攆eel that the situation has remained unchanged.
A gender disparity was noted in the survey regarding opinions. While 31.3 per cent of males felt the interim government was doing better than the previous government, only 16.3 per cent of females shared this view.
According to the survey, 41.2 per cent of females believed the situation had remained the same, compared to just 20.3 per cent of male respondents.
The survey sample was representative of Bangladesh鈥檚 demographics, with equal numbers of male and female respondents. Besides, 92.7 per cent of the participants identified as Muslim.
Over 50 per cent of the participants were aged under 34, and nearly a quarter lived in urban areas.
Inflation stood at 9.72 per cent in June 2024, rising to 10.87 per cent by October. This period has witnessed political turmoil in the government.
However, inflation did not suddenly spike due to political instability in July 2024, even though it reached its highest point of the year鈥�11.66 per cent鈥攖hat month.
Inflation had fluctuated between 5 per cent and 6 per cent in 2020 and 2021. But, from mid-2022, inflation began to rise, crossing 9 per cent in 2023 and nearing 10 per cent, according to Bangladesh Bank data.
After the interim government assumed power in August, inflationary pressure on essential commodities persisted. While inflation decreased slightly in September, it climbed again to nearly 11 per cent in October.
Since taking power, the current government has implemented several measures aimed at controlling inflation, such as reducing import duties on essential goods like rice, potatoes, sugar, oil, and onions.
The margin for opening letters of credit for various imports has been halved, making imports easier. Additionally, market monitoring and surveillance of key players in the supply chain are being conducted.
Since 2022, Bangladesh Bank has gradually raised interest rates to reduce demand and control inflation. In October 2024, the bank rate was increased to 10 per cent.
