Finance Minister AHM Mustafa Kamal on Thursday said that the annual average inflation in the next fiscal 2023-24 would remain at around six percent.

“Due to the decrease in the prices of fuel, food, and fertiliser in the global markets, along with the adjustment of fuel prices in the domestic markets and government initiatives to keep the food and supply systems normal, the inflation will remain much controlled in the next fiscal year and the annual average inflation is expected to stand around 6.0 percent,” he said.

The finance minister said this while placing the proposed budget for FY24 at Jatiya Sangsad on Thursday.

Mentionable, the rate of inflation was 12.3 percent in FY08, he said, despite intermittent global economic recession, in the last 14 years rise in food and fuel prices in the world markets, the government was able to keep the inflation in check. 

In FY22, the average inflation was within 6.75 percent. Even in the last fiscal year, the average inflation was 6.15 percent.

“Although the inflation increased due to the Russia-Ukraine war, the government has been making an all-out effort to check the inflation and mitigate its impact on the people,” he added.