Bangladesh’s overall inflation rate, measured as a 12-month average, fell below 9 percent in November for the first time since June 2023, reflecting easing price pressures amid tighter monetary policy and fiscal restraint.

The development was highlighted at a high-level meeting on the country’s overall economic progress and budget spending, chaired by Chief Adviser Professor Dr Muhammad Yunus on Monday at the state guest house Jamuna.

The information was shared by Deputy Press Secretary to the Chief Adviser Abul Kalam Azad Majumder.

On a point-to-point basis, inflation had crossed 9 percent in March 2023, reaching 9.33 percent. However, point-to-point overall inflation dropped below 9 percent in June this year and declined further to 8.29 percent in November. Officials expressed optimism that, due to the government’s contractionary monetary policy and austerity measures, inflation could fall below 7 percent by June 2026.

The meeting was attended by Finance Adviser Salehuddin Ahmed, Planning Adviser Wahiduddin Mahmud and Bangladesh Bank Governor Ahsan H Mansur.

Participants noted that the gap between inflation and wage growth, which had widened in recent years and eroded real incomes, has narrowed significantly in recent months. In November, point-to-point inflation stood at 8.29 percent while wage growth was recorded at 8.04 percent, compared with averages of 9.02 percent and 7.04 percent respectively in the 2022–23 fiscal year. Officials said this indicates a gradual recovery of real incomes in the current fiscal year.

The meeting also reviewed developments in agriculture, noting that appropriate incentives and management led to a strong boro rice harvest in the previous fiscal year, while favourable conditions so far point to a good aman harvest this season. As of December 15, 2025, aman rice production had reached 16.095 million tonnes, with output expected to exceed targets once harvesting is completed. Although aus rice production was slightly below target, total output increased by 7.2 percent compared with the 2024–25 fiscal year.

In the financial and external sectors, gross foreign exchange reserves rose to 32.57 billion US dollars as of December 18, 2025, up from around 25 billion dollars in August 2024. Officials attributed the improvement to exchange rate stability, higher remittance inflows and a recent rise in interest rates, and expressed confidence that reserves would continue to grow.

The current account deficit has also narrowed sharply. After remaining negative from the 2016–17 to 2023–24 fiscal years, with deficits of 18.7 billion, 11.6 billion and 6.6 billion dollars in 2021–22, 2022–23 and 2023–24 respectively, it stood at just 139 million dollars at the end of 2024–25. During July–October of the current fiscal year, the deficit was recorded at 749 million dollars.

Remittance inflows showed strong growth, with overseas employment for about 500,000 workers secured during July–November of the current fiscal year, up from 397,000 in the same period a year earlier. Remittances during the period reached 13.04 billion dollars, marking a 17.14 percent increase year-on-year.

Officials also noted a recovery in imports following the removal of restrictions aimed at boosting productive economic activity. Import growth, which was negative 1.2 percent during July–November of the 2024–25 fiscal year, rose to 6.1 percent in the same period of 2025–26.

The opening of letters of credit for capital machinery and industrial raw materials also rebounded sharply, reflecting improved trade financing conditions and renewed confidence in the economy, officials said.