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Economy

Living cost in capital rose by 8.44 pc in 2017: CAB

02 January 2018,Tuesday, 23:07



The living cost in the capital marked a rise by 8.44 percent in 2017 due to the hike in the prices of daily essentials and the tariffs of utility services, including that of food, house rent, electricity and gas, according to Consumers Association of Bangladesh (CAB).

CAB president Golam Rahman came up with the statistics at a press briefing at Dhaka Reporter’s Unity (DRU) on Tuesday.

CAB came up with the findings after scrutinising the data of 15 kitchen markets, 144 food products, 22 essential items and 14 utility services, including gas, electricity and water.

Last year, Golam Rahman said onion prices hit the roof, posting a a 40.99 percent rise, while rice price hiked by 20.40 percent, vegetables by 24.72 percent, liquid milk by 20.36 percent and beef by 19.28 percent.

In the services sector, he said, gas price marked a rise by 6.44 percent, water (per liter) 5 percent and house rent 8.14 percent, he added.

They also placed a 10-point recommendation to cut down the high living cost.

The recommendations include formation of a separate department of ‘Supply and Price’ under Commerce Ministry to control the prices of daily essentials, reforming the House Rent Act 1991 and forming a House Rent Commission.

The latest spike in the living cost was higher than in 2016 when it rose by 6.47 percent in the capital.

 

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