Bangladesh Persists with High Inflation Despite Global Decline, Calls for Integrated Approach to Tackle Price Rises

Bangladesh's inflation hit 9.59% in January, exceeding the central bank's 7.5% target despite 8 interest rate hikes since May 2022
Global inflation is falling but Bangladesh's inflation persists due to domestic price rigidity, market imperfections, currency depreciation counteracting global price declines
Monetary policy alone seems ineffective; integrated approach needed involving fiscal, commercial, food supply measures to address sources of inflation
Market manipulation, price gouging in response to export restrictions may contribute to inflation
Sustained high inflation expectations, elevated asset prices exacerbate risks; tariff hikes anticipated