In an effort to comply with the conditions set by the International Monetary Fund (IMF), the interim government has raised VAT and supplementary duties on nearly 100 products and services.
The VAT, previously ranging from 5% to a maximum of 10%, has now been increased to 15%.
Simultaneously, Petrobangla has proposed more than doubling the price of gas for industries, from Tk31.50 to Tk75.72 per cubic metre, a move that has already begun to ripple through the market.
Retailers report that even items not subjected to new taxes or increased VAT have experienced price hikes.
Chicken prices have risen by Tk20 to Tk30 per kilogramme, with vegetables and rice also seeing increased costs.
Several retail vendors, speaking from marketplaces such as Hatirpool and Karwan Bazar, explained the price escalation.
They cited a rise in wholesale costs as the primary reason for the increase.
"Prices have been climbing for a few days now, forcing us to sell at higher rates," said a retailer.
Despite hopes for price reductions under the new government, the opposite scenario has unfolded.
The price of potatoes has risen from Tk30-35 per kilogramme to Tk40, and onions from Tk50 to Tk60.
Vendors in these markets attribute these hikes to increased costs at wholesale levels, indicating an unavoidable need to pass on these expenses to consumers to avoid losses.
In Karwan Bazar, retailers stated that potatoes now sell for Tk40 per kilogramme, while onions have reached Tk60.
Meanwhile, domestic ginger continues at Tk120-130 per kilogramme, with imported varieties at Tk240-250, and garlic at Tk220-240 per kilogramme.
Prices for other vegetables have similarly climbed.
Aubergines have surged from Tk50 to Tk60 per kilogramme, with larger varieties hitting Tk70-80.
Beans, previously priced between Tk30 and Tk50, now sell for Tk40 to Tk70, and green chillies have increased from Tk80 to Tk100 per kilogramme.
Retailers maintained that cucumbers remain at Tk50-60 per kilogramme, cauliflowers at Tk20-25 per piece, cabbages at Tk25-30, tomatoes at Tk50-70, radishes at Tk20-25, carrots at Tk60, papayas at Tk40-50, and gourds at Tk40-50 per piece.
Various greens like red spinach, spinach, and water spinach are being sold at Tk10 per bundle.
Prices of pulses and essentials have stayed relatively stable, with chickpeas at Tk120-130 per kilogramme, mung beans at Tk180, and lentils ranging from Tk110 to Tk135.
Wheat flour is priced at Tk100-130 for a two-kilogramme packet, and loose flour at Tk40 per kilogramme.
Soybean oil is sold at Tk175 per litre, while sugar prices hover between Tk120 and Tk125 per kilogramme.
The price of chicken has escalated in light of government fiscal policies and the proposed gas price hike by Petrobangla.
Retailers reported selling broiler chickens at Tk210-220 per kilogramme, Sonali chickens at Tk360-380, and local varieties at Tk550-600.
Despite the increases, beef and mutton prices have remained unchanged at Tk700-750 and Tk1,050-1,100 per kilogramme, respectively.
Eggs have seen a slight decrease, selling at Tk130-135 per dozen.
Rice prices have also remained high despite the harvest season.
Retailers note that prices from rice mills have kept retail costs inflated.
Miniket rice is priced at Tk72-80 per kilogramme, Atap at Tk62-64, coarse rice at Tk54-56, and Nazirshail at Tk76-82.
