Pakistan‘s headline inflation increased by 4.22 per cent in February 2017 over the same period of the last fiscal year, owing to the surge in prices of petroleum products, said Pakistan Bureau of Statistics.
The annual inflation rate measured by the Consumer Price Index (CPI), which captures the prices of 481 commodities in urban centres, was recorded at 4.22% in February compared with the same month of the previous year.
Consumer Price index (CPI) data for the first eight months of the current fiscal year was released by the PBS. “Month-on-month inflation was increased mainly due to rise in the cost of perishable food items, medicines, education,” said Chief Statistician Asif Bajwa.
The price of food and non-alcoholic beverages increased by 3.10 per cent in February 2017 as opposed to the same month a year ago, non-perishable food items, 2.42 per cent, perishable food items, 7.86 per cent, while prices of alcoholic beverages and tobacco went up by 12.44 per cent.
The price of clothing & footwear increased by 4.16 per cent in February 2017 compared to the same month of the last fiscal year, housing, water, electricity, gas and other fuels cost increased by 4.83 per cent, health, 14.11per cent, transport, 0.40 per cent, and cost of education went up by 11.33 per cent.
The year-on-year increase in inflation in the month of February 2017 over the same month a year before was fuelled by 48.66 per cent increase in the price of Lederplex syrup, 44.16 per cent in gram whole yellow, 37.50 per cent in peas, and 36.70 per cent increase was witnessed in the prices of Entox tablet as well as other vegetables and besan.
An increase in inflation was noted in February 2017 over previous months with main commodities which contributed to spike in inflation were tomatoes with 28.98 per cent increase in the cost, peas, 11.42 per cent, Kinnu, 9.70 per cent, as well as other vegetables and fruits.
The inflation during the first eight months of the current fiscal year (July-February 2016-17) over the same period of last fiscal year has increased by 3.90 per cent mainly because of 2.89 per cent increase in the cost of food & non-alcoholic beverages, 2.64 per cent increase in prices of non-perishable food items, 4.31 per cent hike was witnessed in perishable food items, while alcoholic beverages & tobacco became costlier by 15.37 per cent. The cost of clothing and footwear increased by 4.35 per cent during the period under review, housing, water, electricity and gas fuels by 4.83 per cent, health, 8.91 per cent, and cost of education increased by 10.22 per cent.
During the month of February 2017 over February 2016, the trimmed core inflation was noted at 4.1 per cent as compared to 3.6 per cent during February 2016 over February 2015 while non-food & non-energy core inflation remained 5.3 per cent as against 4.5 per cent during February 2016 over February 2015.