No doctoring in inflation figures: Salehuddin

Finance Adviser Dr Salehuddin Ahmed has said that the rising inflation rate accurately reflects the current state of the economy, dismissing allegations of data manipulation.  

Speaking at the launch of the sixth edition of the Banking Almanac at Dhaka's CIRDAP Auditorium on Saturday, Salehuddin explained that the Bangladesh Bureau of Statistics (BBS) was directed to publish available data transparently, with no attempts to hide or alter the figures.  

Addressing concerns, he acknowledged past discrepancies in data related to inflation and gross domestic product (GDP), attributing them to both unintentional errors and deliberate attempts by policymakers to obscure information.  

Despite multiple interest rate hikes, inflation in Bangladesh has continued its upward trend, reaching 11.38 per cent in November, up from 10.87 per cent in October. This means a basket of goods and services that cost Tk 100 in November 2023 would cost Tk 111.38 in November 2024.  

Salehuddin emphasised that the interim government is focused on addressing these issues rather than showcasing its capabilities. “We are here to correct the discrepancies in data spanning the last 15 years,” he said.  

Efforts are underway to rectify and revise previously concealed information, he added. 

Salehuddin also noted that donor agencies have raised questions about the accuracy of past data. “We are clarifying to them that earlier data was intentionally hidden, and we are now presenting accurate figures,” he assured.