Dhaka, June 1 -- Bangladesh is targeting an average inflation rate of 6 per cent in the coming fiscal year amid volatility in the global market, the rise in fuel prices and subsidy cuts required by the International Monetary Fund loan deal.

"Due to the decrease in the prices of fuel, food, and fertilizer in the global market, along with the adjustment of fuel prices in the domestic market and government initiatives to keep the food and supply systems normal, the inflation will remain much controlled in the next fiscal year and the annual average inflation is expected to stand at around 6.0 per cent," he said in his budget speech on Thursday.

The average inflation target for FY 23 was set at 5.6 per cent in the outgoing fiscal year, but ...