CPI-based inflation falls to 5.8 per cent

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CPI-based inflation falls to 5.8 per cent

ISLAMABAD:Consumer Price Index (CPI) inflation fell to 5.8 per cent in April 2013 over the corresponding period of previous year, marking a new low since 2007.

Inflation based on CPI was registered at 5.8 per cent in April 2013 over the corresponding period of previous year, revealed the figures of Pakistan Bureau of Statistics (PBS) on Thursday. The inflation has touched lowest level since 2007 mainly due to the methodology to calculate the inflation figures last year. Inflation remained in double digits from the year 2008 to June 2012. However, CPI inflation has been continuously declining since June 2012, with the average CPI for 10 months (July-April) of the current fiscal year 2012-13 coming in at 7.75 per cent on yearly basis as compared to 10.85 per cent in 10 months of last FY 2011-12. "The CPI inflation came down sharply to 5.8 percent year-on-year in April and keeping up with its declining trend it seems that the low inflation level will prevail in the upcoming two months (May-June) of the current fiscal year," said an analyst.

According to the data released by the Pakistan Bureau of Statistics (PBS), inflation based on Consumer Price Index (CPI) was recorded at 7.75 per cent during the first ten months (July-April) of the ongoing fiscal year 2012-13 over the corresponding period last year. Meanwhile, Sensitive Price Index (SPI) based inflation surged by 7.86 per cent and Wholesale Price Indicator (WPI) based inflation increased by 7.91 per cent during July-April of the ongoing financial year 2012-13. Meanwhile, according to the PBS figures, CPI based inflation increased by 1.1 per cent in April 2013 against March. The break-up of CPI-based general inflation (5.8 per cent in April 2013 over April 2012) showed that food and non-alcoholic beverages prices went up by 5.12 per cent, alcoholic beverages and tobacco prices increased by 13.29 per cent, clothing and footwear prices soared by 12.72 per cent, housing water, electricity and gas fuels 3.67 per cent, health care charges went up by 12.42 per cent, transportation charges 0.95 per cent, communication charges 5.13 per cent, recreation and culture charges went up by 19.87 per cent, education charges 6.8 per cent and restaurants and hotel charges by 8.23 per cent and miscellaneous 7.32 per cent in April 2013 against the same month of the preceding year 2012.

Meanwhile, according to the PBS figures, price of onions increased by 40.12 per cent in the month of April against March, prices of fresh vegetables enhanced by 20.97 per cent, prices of fresh fruits went up by 12.46 per cent, price of chicken surged by 4.76 per cent, price of tea increased by 2.53 per cent, fish price surged by 1.73 per cent, sugar price increased by 1.70 per cent, pulse masoor price enhanced by 1.37 per cent, in April 2013 as compared to March. Similarly, price of text books increased by 6.89 per cent, price of cotton cloth enhanced by 4.38 per cent, education charges went up by 2.52 per cent, house rent went up by 1.48 per cent, household equipments 1.25 per cent, construction input items prices up by 0.94 per cent and price of stationary increased by 0.89 per cent in April 2013 against March 2013.

However, according to the PBS figures, price of tomatoes decreased 27.11 per cent, price of eggs went down by 13.69 per cent, prices of pulse gram went down by 6.91 per cent, prices of potatoes reduced by 6.26 per cent, price of wheat down by 5.5 per cent, gram whole prices decreased by 5.08 per cent, besan price reduced by 5.04 per cent, wheat flour price declined by 2.91 per cent, pulse mash price decreased by 2.35 per cent, spices price reduced by 2.31 per cent, mustard oil price down by 1.69 per cent, and wheat product price decreased by 1.29pc in April 2013 against in March.

Courtesy: The Nation

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