Prices of Essentials Expected to Drop During Ramadan: Adviser

In a recent interview with BSS at the Bangladesh Secretariat, Dr. Salehuddin explained that the government had taken steps to reduce import duties on key commodities such as dates, rice, pulses, sugar, and oil, bringing the duties down to zero. Despite these efforts, he acknowledged the challenges posed by the many intermediaries in the supply chain, such as suppliers, importers, and producers, which complicates price control efforts.

"It is difficult to eliminate all middlemen, but we are focused on minimizing their impact to ensure prices remain affordable," Salehuddin said.

According to the Bangladesh Bureau of Statistics (BBS), the country’s Consumer Price Index (CPI) dropped to 9.94% in January 2025, down from 10.89% in December 2024, signaling a positive trend in price stabilization.

Addressing concerns over inflation, Salehuddin emphasized that the government is actively working to reduce inflation to manageable levels. “The inflationary pressures inherited from the previous government remain a challenge. While we have made some progress, inflation continues to be a concern. It will take time for the situation to fully stabilize. The key challenge remains increasing supply in line with growing demand,” he explained.

In preparation for Ramadan, Dr. Salehuddin reassured the public that the government had established buffer stocks to prevent shortages of key products during the fasting month. “We have stockpiled rice and wheat at the local level to ensure smooth supply and prevent any disruptions during Ramadan,” he added.

The Finance Adviser also noted that inflation has been rising over the past two years, partly due to the implementation of large-scale infrastructure projects that increased demand but did not see a corresponding boost in supply. “During this period, large projects were initiated, and while demand surged, supply couldn’t keep up. Additionally, there were liquidity constraints in the economy, which further contributed to inflation. This situation is being closely monitored under Bangladesh Bank’s monetary policy,” Salehuddin stated.

He also pointed to the impact of recent floods in 7-8 districts, which caused significant damage to essential products, including poultry, fish, vegetables, and rice.

To further address price concerns, a local committee has been established to closely monitor the commodity markets. “I have instructed deputy commissioners to actively monitor the market situation to ensure that prices remain stable and transparent during Ramadan,” he concluded.

These efforts are part of a broader government strategy to manage inflation, stabilize essential commodity prices, and support consumers during the holy month.