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Reuters
Reuters
Business
By Ruma Paul

Bangladesh announces fuel price jump, stokes inflation fears

People refuel their motorcycles at a gasoline station after fuel price surge up to fifty percent in Dhaka, Bangladesh, August 6, 2022. REUTERS/Mohammad Ponir Hossain

Bangladesh raised fuel prices by around 50% on Saturday, a move that will trim the country's subsidy burden but put more pressure on inflation that is already running above 7%.

The South Asian country's $416 billion economy has been one of the fastest-growing in the world for years.

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