Bangladesh: Rise in Consumer Price Index and Wage Rate Index

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On January 13, 2024, the Bangladesh Bureau of Statistics (BBS) reported a significant increase in the Consumer Price Index (CPI) and Wage Rate Index (WRI).

CPI Inflation Rate

The CPI, which measures changes in the prices of a representative basket of goods and services, surged by 6.5% in December 2023 compared to the same period in 2022. This marked a steep rise from the 3.8% inflation rate recorded in December 2022.

WRI Increase

The WRI, which tracks changes in wages and salaries, also saw a significant increase of 5.2% in December 2023. This growth was attributed to higher labor costs in the construction, manufacturing, and services sectors.