One in Four Bangladeshis Live in Poverty as Food Prices Soar
The Multidimensional Poverty Index reveals alarming figures: one in four Bangladeshis live in poverty, with nearly 3.98 crore individuals struggling with multidimensional poverty. Soaring food prices, particularly in the kitchen market, are exacerbating the crisis, pushing more people into destitution.
The government has rolled out social safety net programs, subsidized food distribution, and price controls to combat food price instability and poverty. However, these efforts have had limited success. Research shows that food inflation is impacting people's food intake and nutritional inequality.
In Dhaka, vegetable prices continue to rise, with green chillis selling for Tk 300-350 per kilogram. A study in December 2024 found that high inflation had pushed at least 78 lakh people into poverty, with 38 lakh falling into extreme poverty. The increasing prices of protein items have led people to rely more on vegetables and broilers, but these too are becoming unaffordable.
In August, the Power and Participation Research Centre estimated that poverty had risen to 27.93 percent, up from 18.7 percent in 2022. The plight of a farmer and his family of four, found dead in Rajshahi due to suspected murder and suicide driven by debt and hunger, underscores the severity of the situation. Traders attribute the price increase to excessive rain, suspension of trading activities at land ports, and dampened soil.
The rising poverty and food price instability in Bangladesh demand urgent attention. While the government has implemented various initiatives, their impact has been limited. Further efforts are needed to stabilize prices, improve food security, and reduce poverty, ensuring no one is left behind.
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