DHAKA, Jan. 4 (Xinhua) -- Bangladesh's inflation plunged to a more than four-year low of 5.03 percent in December, data from the Bangladesh Bureau of Statistics (BBS) showed Wednesday.
Inflation in December eased to its lowest since July 2012 when the country had registered lowest inflation rate of 5.01 percent.
Bangladesh's inflation in December last year eased as both food and non-food prices ebbed.
On a point-to-point basis, the official who declined to be named told Xinhua that December inflation dropped to 5.03 percent, lowest in last 53 months, from 5.38 percent in November.
The BBS data showed the country's food inflation in December dipped to 5.38 percent from 5.41 percent in November.
Non-food inflation was 4.49 percent in December against 5.33 percent in November, the data showed.
The BBS official said feeble market demand caused by a slight decline in inflow of remittances contributed to some extent to the steady fall in non-food prices since June last year.
He further said food inflation continued to ease since November mainly as the arrival of winter crops and different food items especially vegetables cooled down prices.
Bangladeshi Planning Minister AHM Mustafa Kamal earlier said political stability played a major role in easing inflationary pressures in the country.
Bangladesh's inflation during the 12 months of the last 2015-16 fiscal year (July 2015-June 2016) eased to 5.92 percent.
The country's average inflation in the previous 2014-15 fiscal year (July 2014-June 2015) reached 6.35 percent.
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LONDON Wholesale NFL Hoodies China , Aug. 15 (Xinhua) -- Tuesday's announcement by the British government that it had a formal plan for trade with the European Union (EU) for a period after it formally leaves the bloc was met with cautious approval by business leaders while some other people criticized it.
London announced Tuesday that it wanted a temporary form of customs union to continue trading with the EU after the United Kingdom (UK) formally left the union, which is scheduled for the end of March 2019, in what it described as a transition deal.
Businesses Wholesale NFL Jerseys China , the City (British financial sector), and services had all expressed concerns that the departure of the UK from the EU would lead to a ""cliff-edge scenario"" where trade was governed by UK rules and then suddenly by less favorable World Trade Organization (WTO) rules, increasing bureaucracy Wholesale Football Hats , costs and tariffs when the exit took place.
This scenario would have been unwelcome, with businesses preferring the certainty of a negotiated settlement, which could provide better terms than WTO rules.
The British government's position paper is intended to provide a focus for discussion with the EU to achieve a negotiated deal Wholesale Football Shirts , and crucially to avoid an imminent deadline.
Anastassia Beliakova, head of trade policy at business representative body British Chambers of Commerce (BCC), told Xinhua on Tuesday afternoon: ""It remains to be seen how the plan would be worked out in the details Wholesale Football Hoodies , but it is certainly good news that this is clearly a priority for the UK government.""
Surveys over the past year of BCC member companies, showed that two thirds of firms wanted some kind of transition deal after Britain formally left the EU, said Beliakova.
Clarity on the UK's future customs arrangement with the EU is significantly higher on their priority list than the swift negotiation of new free trade agreements Wholesale Football Jerseys , and businesses wanted to see the government's resources focused on the conclusion of a successful customs deal with the EU.
""Leaving the customs union means having to adapt to new bureaucratic processes that businesses are not currently used to, so today's paper which outlines intentions for a customs arrangement that would be as close as possible to what we currently have is welcome,"" said Beliakova.
British businesses would wish the process of leaving the EU to be as smooth and cheap as possible Wholesale NFL Hats , said Beliakova.
A situation where Britain left the EU in 2019 and then sometime after that negotiated a new trade deal would not be the best solution, said Beliakova, because it would mean that businesses have to adapt to two new sets of circumstances with two new and different sets of costs.
""Ideally businesses would not have to face two or more sets of adjustment costs; where that would happen is if there is one arrangement for the interim period and then something entirely different at the end of it -- that should be avoided Wholesale NFL Shirts ,"" said Beliakova.
Current customs union arrangements means the free flow of goods across the whole EU is possible with no border or tariff checks. This is speedy and drives down costs.
""Our members would want to have as few physical checks on goods as possible, and if there is to be a customs border as little waiting time there as possible too. Any extra costs would need to be minimized,"" Beliakova said.
BCC represents businesses across Britain employing 5 Wholesale NFL Hoodies ,000,000 workers, approximately one sixth of the total British workforce.
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