Inflation not nine-year high at 7.56%, it 5.9%: Kamal

Finance Minister AHM Mustafa Kamal criticised media for reporting that inflation hit a nine-year high in June. 

He said media reported inflation based on month-on-month data but the government calculates consumer prices by computing its average.

As per the month-to-month calculation, inflation stands at 7.56 per cent in June, which should be 5.9 per cent according to the government calculation, he said.

He spoke in a virtual press conference after a meeting of the cabinet committee on public purchase today.

"There was over 12 per cent inflation when we came to the power and the forex reserve was $7 billion, which started rising and hit $48 billion. It has decreased in recent times, but still there is $40 billion."

Asked whether the government will take loan from the International Monetary Fund, the minister said: "We didn't get any official proposal from the IMF in this regard yet and we didn't also send any proposal."

Bangladesh will not send any loan proposal to the IMF now. "We will take loan when it is needed and you (journalists) will come to know about it then."

He said the government will not sign any deal with the IMF which will not be beneficial for the country.

Kamal confirmed again that the government has not yet received any loan proposal from the IMF.