The upward trend in inflation continued as it went up further to 11.38 per cent in November on the back of price hikes of food items in both rural and urban areas.
The food inflation was recorded at 14.63 per cent in the urban area and 13.41 per cent in the rural area during the month by the Bangladesh Bureau of Statistics.
Vegetables, onion, potato and edible oil were selling at high prices in the local market with traders blaming inadequate supply.
While production of early varieties of the items was hampered due to flood and downpour in many parts of the country, the price of edible oil remained high because of a supply shortage of packaged soya bean oil.
Economists said the Bangladesh Bank had already hiked policy rates and now the government need increasing supply in the country.聽聽聽聽聽
Policy Exchange Bangladesh chairman M Masrur Reaz said the BB under the new regime has relaxed import restrictions slightly, but more flexibility was needed.
In October, the rate of general inflation was 10.87 per cent, which is already 14-year high as the average inflation was recorded at 10.92 in FY11.
The inflation in November hit 16-year high as the average inflation in FY08 was recorded at 12.30 per cent.
Former World Bank Dhaka office chief economist Zahid Hussain said the inflation calculation reflected the reality which was missing under the Awami League regime ousted amid a mass uprising on August 5.
The recently published White Paper on State of the Bangladesh Economy revealed that manipulated domestic production figures and understated demand for key commodities, such as rice, edible oil, and wheat, have destabilised markets.
Erratic and politically influenced procurement policies have benefited powerful business groups while exacerbating consumer hardships, said the white paper, adding that the absence of robust regular stock monitoring had only compounded these distortions.
Zahid Hussain said the interim government assumed power almost four months ago should steps to make the inflation tolerable.
The government has taken initiatives by Trading Corporation of Bangladesh to include about 10 lakh readymade garment workers in its subsidised food items distribution programme beside one crore family card holders.
Under the Smart Family Card programme, the TCB has been selling rice, edible oils, lentil and sugar at subsidised rates to low-income groups against the backdrop of high inflation prevailing over the past two years.
Finance adviser Salehuddin Ahmed has already said the government will include more vulnerable groups under the food distribution network since people have been suffering due to price spiral of items for the past two years.
On Wednesday, he said the commodity market was giving signs of stability and hoped that price hikes of commodity would be checked in coming days.
The commodity prices will remain at comfortable level in the upcoming Ramadan, he hoped.
Once again asking the country people to be patient, he said the government was trying to increase the import of edible oil, price of which increased in the international market recently.