Monthly food price estimates by product and market
Bangladesh, 76 markets, 2007/01/01-2024/12/01, version 2024-12-02

Bangladesh, 2007 - 2024

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Reference ID

BGD_2021_RTFP_v02_M

Producer(s)

Bo Pieter Johannes Andrée

Collection(s)

Fragility, Conflict and Violence

Metadata

DDI/XML JSON

Created on

Jan 31, 2024

Last modified

Dec 05, 2024

Page views

4547

Downloads

304

Identification

Survey ID number

BGD_2021_RTFP_v02_M

Title

Monthly food price estimates by product and market

Subtitle

Bangladesh, 76 markets, 2007/01/01-2024/12/01, version 2024-12-02

Abbreviation or Acronym

Real Time Food Prices

Country/Economy

Name	Country code
Bangladesh	BGD

Study type

Monthly food price estimates in fragile countries

Series Information

Real Time Prices (RTP) is a live dataset compiled and updated weekly by the World Bank Development Economics Data Group (DECDG) using a combination of direct price measurement and Machine Learning estimation of missing price data. The historical and current estimates are based on price information gathered from the World Food Program (WFP), UN-Food and Agricultural Organization (FAO), select National Statistical Offices, and are continually updated and revised as more price information becomes available. Real-time exchange rate data used in this process are from official and public sources.

RTP consists of three sub-series, Real Time Food Prices (RTFP) includes prices on a variety of food items that primarily include country-specific staple foods, Real Time Energy Prices (RTEP) includes fuel prices, and Real Time Exchange Rates (RTFX) and includes unofficial exchange rate estimates as well as possible other unofficial deflators.

To produce smooth price series, outliers in the data are often adjusted using non-parametric density estimation and other techniques. Generalized Auto-Regressive Conditional Heteroskedasticity models are used to estimate intra-month price ranges. These models allow for excess kurtosis using a Generalized Error Distribution (GED). Open, High, Low, and Close price estimates are provided based on the modeled time-varying price distributions.

Data are produced from 2007 to the present and estimates are given for individual commodity items at geo-referenced market locations. Predicted data for missing entries are based on exchange rates, and price data available either at other market locations or from related price items.

RTP estimates of historical and current prices may serve as proxies for sub-national price inflation series or substitute national-level Consumer Price Inflation (CPI) indicators when complete information is unavailable. Therefore, RTP data may differ from other sources with official data, including the World Bank’s International Comparison Program (ICP) or inflation series reported in the World Development Indicators.

The following datasets are part of this sub-series:

Country-level inflation:

All countries: https://microdata.worldbank.org/index.php/catalog/study/WLD_2021_RTFP-CTRY_v02_M

Market-level estimates:

HIGH-LOW CHART, AND INFLATION

LOCATION OF MARKETS

DATA PREVIEW

Abstract

Food price inflation is an important metric to inform economic policy but traditional sources of consumer prices are often produced with delay during crises and only at an aggregate level. This may poorly reflect the actual price trends in rural or poverty-stricken areas, where large populations reside in fragile situations.
This data set includes food price estimates and is intended to help gain insight in price developments beyond what can be formally measured by traditional methods. The estimates are generated using a machine-learning approach that imputes ongoing subnational price surveys, often with accuracy similar to direct measurement of prices. The data set provides new opportunities to investigate local price dynamics in areas where populations are sensitive to localized price shocks and where traditional data are not available.

A dataset of monthly food price inflation estimates (aggregated for all food products available in the data) is also available for all countries covered by this modeling exercise.

Version

Version Date

2024/12/02

Version Responsibility Statement

FCV Data Platform

Scope

Notes

List of food products included in estimates (not all products are included in country-level estimates): lentils, oil, rice, wheat flour

Keywords

Food Price Monitor FPM Real Time Food Prices RTFP Inflation Food Price Inflation Food security Food Insecurity Food Crisis Famine Fragility FCS FCV Food Price Crisis Commodity prices Maize Sorghum Wheat Rice Agricultural prices Food prices Real Time Food Prices Price measurement Real-time exchange rate data Commodity items Geo-referenced market locations Sub-national price inflation series Consumer Price Inflation (CPI) National-level CPI indicators International Comparison Program (ICP) Inflation series Market prices Price analysis Real-time data National prices International prices Price fluctuations Price trends Price Volatility Bangladesh

Coverage

Geographic Coverage notes

The data cover the following sub-national areas: Khulna, Chittagong, Barisal, Rajshahi, Dhaka, Rangpur, Sylhet, Mymensingh, Market Average

Geographic Unit

Sub-national level, Admin 2 (selected)

Producers and sponsors

Primary investigators

Name	Affiliation
Bo Pieter Johannes Andrée	World Bank, Development Data Group (DECDG), Office of the Chief Statistician (DECCS)

Funding Agency/Sponsor

Name	Grant number	Role
Foreign, Commonwealth & Development Office of the United Kingdom		Support to data analytics
Foreign, Commonwealth & Development Office of the United Kingdom	KP-P174529-KMCE-TF0B4149	Data documentation and dissemination (FCV Data Platform)
Department of Foreign Affairs and Trade of Australia	TF0B6892	Support to methodological development in low data regions
Department of Foreign Affairs and Trade of Australia	TF0B6579	Support to methodological development in low data regions
Federal Ministry for Economic Cooperation and Development of Germany as part of the World Bank’s Food Systems 2030 Multi-Donor Trust Fund	TF073570	Expansion of coverage and maintenance
Federal Ministry for Economic Cooperation and Development of Germany as part of the World Bank’s Food Systems 2030 Multi-Donor Trust Fund	TF0C0728	Expansion of coverage and maintenance

Other Identifications/Acknowledgments

Name	Affiliation	Role
World Food Programme (WFP)	United Nations	Source of market price data
Food and Agriculture Organization (FAO)	United Nations	Source of market price data

Data collection

Dates of Data Collection

Start	End
2007/01/01	2024/12/01

Time periods

Start date	End date
2007/01/01	2024/12/01

Sources

Data source	Origin of source	Characteristics
World Food Programme (WFP)	https://data.humdata.org/organization/wfp?vocab_Topics=prices	World Food Programme (WFP); data published in the Humanitarian Data Exchange (HDX) data catalog at https://data.humdata.org/
Food and Agriculture Organization (FAO)	https://fpma.fao.org/giews/fpmat4/#/dashboard/tool/domestic	Local exchange rates and implied exchange rates data derived from commodity pairs published by FAO through the Food Price Monitoring and Analysis (FMPA) Tool

Access policy

Location of Data Collection

World Bank Microdata Library, FCV Collection

URL for Location of Data Collection

https://microdata.worldbank.org

Data Access

Access authority

Name	Affiliation	URL
Data Help Desk	World Bank, Development Data Group	https://datahelpdesk.worldbank.org/

Citation requirements

Please cite this dataset as follows: Andrée, B. P. J. (2021). Monthly food price estimates by product and market (Version 2024-12-02). BGD_2021_RTFP_v02_M. Washington, DC: World Bank Microdata Library. https://doi.org/10.48529/2ZH0-JF55

Restrictions

The estimates presented in this dataset are all based on publicly-available data.
The dataset of price estimates is published as open data.

Disclaimer and copyrights

Disclaimer

The RTFP data and metadata provided are "as is" and "as available," and every effort is made to ensure their timeliness, accuracy, and completeness. When errors are discovered, they are corrected as appropriate and feasible. For details on the terms and conditions for usage of the RTFP database, please refer to the license details.

Additional metadata

Ticker info

ISO	Country	Title	Unit	Food index weight	Data coverage	Imputation
BGD	Bangladesh	Unofficial exchange rate (Parallel-market Estimate)(FAO GIEWS completed with Int. Forex)	USD/LCU	0	100%	n/a
BGD	Bangladesh	Food Price Index	LCU, Indexed, January 2018 = 1	Laspreyes	18.63%	0.96
BGD	Bangladesh	Lentils (masur)	KG	1	16.81%	0.96
BGD	Bangladesh	Oil (palm)	L	1	20.41%	0.97
BGD	Bangladesh	Rice (coarse)	KG	1	15.73%	0.96
BGD	Bangladesh	Wheat flour	KG	1	20.62%	0.96

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Monthly food price estimates by product and market Bangladesh, 76 markets, 2007/01/01-2024/12/01, version 2024-12-02