The inflation in the country witnessed a slight rise as it reached 6.36 percentage point in July, up from 6.25 percentage point in June. “The general point to point inflation rate in the month of July increased to 6.36 percentage point,” said Planning Minister AHM Mustafa Kamal while releasing the monthly consumer price index at the NEC-2 after the ECNEC meeting on Tuesday.
The inflation rate in May was 6.19 percentage point while in April it was 6.32 percentage point.
About the reason for the slight increase of the inflation rate in July, Mustafa Kamal said that the main reason was the increase of non-food inflation due to widespread observance of the Eid-ul-Fitr.
He said that people from all walks of life were engaged in buying of clothes and other items during the Eid which put an impact on the market and also soaring of the non-food inflation rate.
The Planning Minister said that the government would try to keep the annual inflation rate in this fiscal year within 6.2 percent. The general inflation rate began in last fiscal year with 7.04 percentage point in last July, 2014 that came down to 6.91 percentage point in August, 6.84 percentage point in September, 6.60 percentage point in October, 6.21 percentage point in November, 6.11 percentage point in last December and 6.04 percentage point in January. Then the general inflation rate started rising in February with 6.14 percentage point and 6.27 percentage point in March. Apart from the general inflation rate, the rate of non-food inflation except the food inflation also posted a rising trend. The food inflation at national level declined to 6.07 percentage point in July down from 6.32 percentage point in this June while the non-food inflation increased to 6.80 percentage point in July, which was 6.15 percentage point in June.
Besides, the general inflation rate at the urban level slightly increased to 7.28 percentage point in this July while it was 5.88 percentage point at rural level. At the rural level, the food inflation also declined to 5.43 percentage point this July, down from 5.76 percentage point in the previous month, while the non-food inflation increased to 6.69 percentage point in July as against 6.16 percentage point in June.
In urban areas, the food inflation also declined to 7.58 percentage point in July, down from 7.64 percentage point in June. The non-food inflation rate, has however, witnessed a rising trend and it stood at 6.96 percentage point in July which was 6.14 percentage point in June.
The national wage index rate witnessed a 9.55 percent growth in July with 9381.54 which was 9308.26 point in June. The average year to year rate of inflation from August 2014 to July 2015 stood at 6.35 percent, which was 7.28 percent from August 2013 to July 2014.
