Dhaka, Bangladesh (BBN) - The prices of essential commodities have increased by 12.77 percent in 2011, the Consumers Association of Bangladesh (CAB) has said.
"Edible oil prices have increased by 26.44 percent in 2011, the highest among the commodities. The prices of rice have increased 9.97 per cent, atta and flour (maida) 8.72 percent over the last one year," the CAB said in its annual market commodity price report 2011.
It said the income gap between the rich and the poor was widening. According to its observation, frustration is gripping the general people due to the continuous mismatch between income and expenditure. "There should be a market mechanism, which is relevant to the people's income," it noted.
The non-governmental organization also said that excessive rain had disrupted vegetable production, and pushed the prices up in last year.
During 2011, the prices of spices increased by 12.11 percent, vegetables 17.33 percent, coconut oil 19.66 percent, salt 34.42 percent, beef 5.68 percent, sugar and molasses 15.18 percent, fish 8.19 percent, tea 20.58 percent, soap 16 percent, fruits 16.55 percent, betel leaf and betel nut 21.71 percent, milk products 3.74 percent, locally produced cloth 16.82 percent and gold and silver 27.63 percent, according to the report.
The CAB also said the latest hike in fuel-oil prices might push the commodity prices up further.
The recommendations the CAB put forward include streamlining the consumers' rights protection law, implementing competition policy and law, formation of National Price Commission, strengthening TCB (Trading Corporation of Bangladesh), proper utilization of natural resources, curbing unscrupulous traders' machinations over commodity price hike, updating the existing House Rent Law 1991, constructing flats for lower, lower middle and middle class people and keeping the prices of gas, water and power at tolerable level.
BBN/SSR/AD-02Jan12-1:47 pm (BST)