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Inflation slightly rises to 6.24pc in Sept

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Inflation slightly rises to 6.24pc in Sept

Thereport24.com Desk:

The inflation rate in September increased slightly to 6.24 percentage point, up from 6.17 percentage point in August last, mostly due to the increased buying trend during the holy Eid ul Azha.

"The general point-to-point inflation rate in September increased to 6.24 percentage point, up from 6.17 percentage point in August," said Planning Minister AHM Mustafa Kamal while releasing the monthly consumer price index at the NEC 2 after the Ecnec meeting on Wednesday.

The Planning Minister attributed the inflation rise to the increased trend of buying during the Eid-ul-Azha.

Despite the slight increase, he said, the general inflation rate still remains within the fiscal target of 6.5 percentage point. The inflation rate in September 2014 was 6.83 percent, said Mustafa Kamal.

The Planning Minister also noted that the stable exchange rate over the last six years also helped contain the inflation within the desired level.

The average year-on-year rate of inflation from October 2014 to September 2015 stood at 6.25 percent, which was 7.22 percent from October 2013 to September 2014.

Apart from the general inflation rate, the non-food inflation against the food inflation rate posted an increased trend in September. The food inflation at the national level stood at 5.92 percent in September, slightly down from 6.06 percent in August while the non-food inflation increased to 6.73 percent in September, which was 6.35 percent in August.

Besides, the general inflation rate in urban and rural areas slightly increased in this September. The general inflation rate at the urban level was 6.96 percent during the last month against 6.94 percentage point in August, while it was 5.86 percent in September against 5.76 percent in August in rural areas.

In urban areas, the food inflation came down to 7.47 percent in September, down from 7.56 percent in August. The non-food inflation rate, however, increased to 6.37 percent in September against 6.26 percent in August.

In rural areas, the food inflation also declined to 5.26 percent in this September, down from 5.42 percent compared to the previous month, while the non-food inflation was 6.99 percent in September against 6.41 percent in August.

Besides, the national wage index rate witnessed a 7.20 percent growth in September with 130.52 index, which was 7.17 percent in August.

Ends/thereport24.com/HB/Oct 06, 2015