House rent in Bangladesh rose by an average of 5.89 percent in the the second quarter (October-December) of Financial Year (FY) 2023-24, adding additional financial pressure on lower and middle-income group of people, amid the ongoing inflationary pressure in the country, according to the Bangladesh Bureau of Statistics (BBS).
As per the House Rent Index (HRI), the growth of house rent increased by 0.03 percentage points in the period under review compared to the same period of the previous year.
The recent growth comes on the back of a steady decline in the preceding quarter, when the average hike in house rent stood at 6.81 percent.
The BBS released its updated HRI after compiling the cost of renting houses of three categories, namely concrete (pucca), corrugated iron sheet (semi-pucca) and mud houses (katcha and jhupri).
The mud house category saw the highest rent growth during the October-December period, with its related index number rising to 112.47, up by about 6.5 percent year-on-year, as per HRI data.
Similarly, the index of the corrugated iron sheet segment rose to 110.81 in the second quarter, up by some 6.4 percent year-on-year.
House rent is included in the non-food category of the consumer price index, according to BBS.
