Food inflation rate in October was 12.56 percent, which is the highest in the last 11 years and 9 months. As a result, overall inflation also increased in October.
Now what is the answer to the question that when the prices of most of the food items have fallen in the global market, why are the prices of most of the daily items increasing in the local market?
Prothom Alo reports that the price of rice has increased by Tk 2-4 per kg in just over a month, with prices of coarse and medium quality rice seeing the highest increase in retail markets.
Basically low and middle income people are the main consumers of these two types of rice. And, they get a major part of their nutritional requirement from rice. Therefore, the increase in price of rice creates additional life crisis for the majority of the population in the country.
Apart from rice, prices of sugar are also high. Attributing this to the supply crisis, the prices of loose and packaged sugar have been increased by at least 5 taka per kg.