CPI Inflation Up 24.33 Percent

Wednesday, August 13, 2008 at 1:39 pm under Business News CPI Inflation Up 24.33 Percent

ISLAMABAD :The CPI inflation in July, 2008 surged by 24.33 percentage point over the same period of last year with food prices going as high as 33.81 per cent, eroding the purchasing power of the people, according to Federal Bureau of Statistics.

The inflation figures released by the FBS for July showed an increase of 32.98 percent and 34.02 percent respectively in Sensitive Price Indicators (SPI) and Wholesale Prices Indicator (WPI) during the period under review. The higher than expected increase in inflation was caused by successive increments in oil and food prices in the global market. Pakistan, despite being an agricultural country, was forced to import wheat due of mismanagement.

Higher than expected increase in CPI, SPI and WPI, 3.34 percent, 3.77 percent and 4.35 percent, respectively in July over previous month, added more woes to the downtrodden with the cost of consumer price index by group of commodities and services swelling considerably.

The inflation in food and beverages and non-perishable items swelled to 33.81 percent and 35.40 percent respectively in July 2008 over the same period of last year after registering a monthly increase of 2.85 percent and 1.82 percent respectively.

The cost of perishable food items has increased by 22.87 percent, apparel, textile and food wear by 13.78 percent, house rent by 13.27 percent fuel and lightening by 20.49 percent, household furniture and equipments by 11.13 percent, transport and communication by 37.18 percent, recreation and entertainment by 11.50 percent, education by 10.04 percent, cleaning laundry and personal appearance by 18.18 percent and medicare by 9.83 per cent. The following are the main commodities, which showed an increase in their prices during July 2008 over June, 2008:

Food & beverages: The price of tomatoes increased by 104.51 percent, potatoes by 25.98 percent, eggs by 24.68 percent, vegetables by 16.03 percent, condiments by 15.61 percent, onions by 15.18 percent, sugar by 6.25 percent, chicken farm by 5.89 percent, wheat by 5.70 percent, pulse Masoor by 98 percent, Gur by 4.16 percent, cereals by 4.12 percent, pulse gram by 3.91 percent and Maida by 2.89 percent. Apparel, textile & footwear: Footwear increased by 11.95 percent.

FUEL AND LIGHTING: Among fuel and lightening, natural gas increased by 19.55 percent, kerosene by (17.41 percent and firewood by 2.60 percent.

HOUSEHOLD, FURNITURE & EQUIPMENTS ETC: Plastic products increased by 4.40 percent, refrigerator & air conditioner by 3.60 percent, electric iron fans & washing machine by 2.85 percent. Transport & communication: Train fare increased by 33.40 percent, diesel by 17.08 percent, petrol by 14.58 percent, transport fare/charges by 10.40 percent, compressed natural gas (CNG) filling charges by 8.40 percent, service charges by 2.10 percent, vehicles by 2.01 percent and communication by 1.05 percent.

Written by: Mirza Ahsan

Read More in: ISLAMABAD:

Inflation rate up 10.66pc during first quarter
ISLAMABAD , Pakistan - Inflation rate up 10.66pc during first quarter, Inflation remains in double digits...

Essential Items 33.59 Percent Dearer For Low Income Group
ISLAMABAD :Weekly inflation measured by SPI surged 32.22 percent in week ending on July 24 over the same...

Inflation rate climbs to unprecedented level
ISLAMABAD: Rate of inflation in the country jumped to 30-year high at 21 percent compared to the previous...