Economic Reporter :
The cost of living rose by 6.38 percent in 2015 in the capital though the prices of essentials to a large extent, says Consumers Association of Bangladesh (CAB) in its annual report.
However, the trend of rise in living cost in 2015 is 0.44 percent, lower than 2014, which witnessed a 6.82 percent rise in living cost. CAB prepared the report taking into account the costs of 114 food items, 22 essential commodities and 14 utility services in 15 markets and various service providers in the capital.
The prices of food and services raised by 4.81 percent in 2015, which was 6.31 percent in 2014, the CAB report said. The cost of living has been calculated through making a comparison between the total expenditure of family for products and services in ‘consumer basket’ and the weight of the products and services, said the consumer rights group.
The house rent in the capital, on average, rose by 6.33 percent in 2015 which saw an increase of 11.43 percent against 9.76 percent in 2014.
Slum-dwellers were the worst affected ones in 2015 as they experienced an 11.43 percent rise in their house rent in 2015.Citing media reports, CAB said over 10,000 newly constructed apartments remained unsold and many residential flats in Banani, Gulshan and Uttara remained vacant for months but the owners are not reducing the rent.
Though the prices of some essential commodities witnessed nearly a 20 percent decline on the international market, it had little impact on the domestic market.
On average, the prices of electricity increased by 2.32 percent while household gas price saw a 44.44 percent rise in 2015.
On the other hand, the prices of egg rose by 13.16 percent while that of vegetables by 18.64 percent in 2015 compared to 2014.
However, the prices of butter (Dalda and Ghee) declined by 13.10 percent and that of flour price decreased by 5.75 percent in 2015.
The charge for water supplied by Wasa rose by 5.97 percent per litre while the prices of milk powder saw a decline of 3.42 percent in 2015. Rice price also saw a fall by 5.30 percent, while that of edible oil 5.14 percent in 2015.
The rights group also placed a number of recommendations that include expediting steps for stopping bribery and corruption and improving people’s living standard.
CAB also suggested expediting steps to create a business-friendly environment.
The consumer rights group also suggested formation and implementation of National Competition Commission so that the prices of essentials can be kept within the consumers’ purchasing capacity as per government’s election pledge.
The cost of living rose by 6.38 percent in 2015 in the capital though the prices of essentials to a large extent, says Consumers Association of Bangladesh (CAB) in its annual report.
However, the trend of rise in living cost in 2015 is 0.44 percent, lower than 2014, which witnessed a 6.82 percent rise in living cost. CAB prepared the report taking into account the costs of 114 food items, 22 essential commodities and 14 utility services in 15 markets and various service providers in the capital.
The prices of food and services raised by 4.81 percent in 2015, which was 6.31 percent in 2014, the CAB report said. The cost of living has been calculated through making a comparison between the total expenditure of family for products and services in ‘consumer basket’ and the weight of the products and services, said the consumer rights group.
The house rent in the capital, on average, rose by 6.33 percent in 2015 which saw an increase of 11.43 percent against 9.76 percent in 2014.
Slum-dwellers were the worst affected ones in 2015 as they experienced an 11.43 percent rise in their house rent in 2015.Citing media reports, CAB said over 10,000 newly constructed apartments remained unsold and many residential flats in Banani, Gulshan and Uttara remained vacant for months but the owners are not reducing the rent.
Though the prices of some essential commodities witnessed nearly a 20 percent decline on the international market, it had little impact on the domestic market.
On average, the prices of electricity increased by 2.32 percent while household gas price saw a 44.44 percent rise in 2015.
On the other hand, the prices of egg rose by 13.16 percent while that of vegetables by 18.64 percent in 2015 compared to 2014.
However, the prices of butter (Dalda and Ghee) declined by 13.10 percent and that of flour price decreased by 5.75 percent in 2015.
The charge for water supplied by Wasa rose by 5.97 percent per litre while the prices of milk powder saw a decline of 3.42 percent in 2015. Rice price also saw a fall by 5.30 percent, while that of edible oil 5.14 percent in 2015.
The rights group also placed a number of recommendations that include expediting steps for stopping bribery and corruption and improving people’s living standard.
CAB also suggested expediting steps to create a business-friendly environment.
The consumer rights group also suggested formation and implementation of National Competition Commission so that the prices of essentials can be kept within the consumers’ purchasing capacity as per government’s election pledge.
