Economic gloom impacts Bangladesh's furniture industry as inflation remains high

Bangladesh's furniture industry is facing a severe downturn, with sales plummeting by up to 30% from pre-Covid levels. This decline is attributed to persistent high inflation, which has seen average annual inflation rates exceed 9% since fiscal year 2022-23, outpacing wage growth. The International Monetary Fund (IMF) projects that average inflation in Bangladesh will reach 10.9% in the current fiscal year 2026-27, with real GDP growth anticipated at 3.2%.