AN APPRAISAL OF SOCIO-ECONOMIC IMPACTS OF INFLATION ON THE DEVELOPMENT OF BANGLADESH

This paper reviewed the imperative issues between inflation and economic growth and theimpact of inflation on the socio-economic development of Bangladesh mostly from the lastdecade. Bangladesh has been elevated from the status of a low-income country to a lowermiddle income country as per the classification of the World Bank since July 2015. Thecountry faces double-digit inflation costs. Losing the buying power and expanding the expenseof production shows the high pace of inflation. In Bangladesh, food value inflation is higherthan total inflation and contributing to basic inflationary persecution. Besides, inflation andgrowth rate are called genuine GDP development rate have a positive and negative relationshiprelying upon circumstance. Inflation vacillates constantly due to the variance of the moneysupply. In any case, lately, we came to realize that foreign relations are influencing to expandthe inflation cost. The global price hike is also a major cause of inflationary pressure.Predictable spending shortfall and exchange rate decay the economic growth whichstraightforwardly relates to inflation and can raise unemployment because of high inflationdue to expanded production price resources might be decreased. So, the authority should workon inflation control for reasonable future signs.