Inflation hits double digits after six years

ISLAMABAD: Inflation has entered double digits in the first month of the new fiscal year, the biggest increase in five years and nine months.

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Inflation, measured by the Consumer Price Index (CPI), rose to 10.34 per cent in July this year from 8.9pc the preceding month, the Pakistan Bureau of Statistics said on Thursday. During the same month last year, inflation stood at 5.84pc.

The last time inflation entered the double digits was in November 2013 and recorded at 10.9pc.

 

The CPI tracks the prices of around 480 commodities every month in urban centres across the country.

Food inflation was up 9.2pc on an annual basis but surged 1.5pc on a monthly basis. Prices of non-perishable food items rose by 7.85pc and those of perishable products by 8.06pc in July.

Food items whose prices increased the most in July were: potatoes 16.84pc, pulse moong 5.41pc, eggs 5.06pc, gur 4.80pc, pulse mash 4.50pc, wheat flour 3.58pc, fresh vegetables 3.56pc, pulse masoor 2.83pc, vegetable ghee 2.49pc, bakery and confectionary 2.45pc, rice 1.77pc, milk fresh 1.41pc, pulse gram 1.31pc, tomatoes 1.17pc, sugar 1.09pc and meat 0.93pc. In the same category, however, prices of chicken declined by 8.26pc, fresh fruit 7.95pc, onions 1.73pc and betel leaves & nuts 0.65pc.

The report published in Dawn Newspaper

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