This is with reference to the editorial titled "Monitoring of Inflation" which appeared in your esteemed daily today (Business Recorder June 1, 2006 issue).
It is clarified that the "Inflation Monitor" released by the State Bank of Pakistan is an independent exercise to analyse the inflationary trends in the country and it uses the same data of price indices as compiled by the Federal Bureau of Statistics. Moreover, the objective of releasing Inflation Monitor is not to present another set of figures, as assumed in the editorial; instead it aims not only to track price movements but also to give an objective analysis of various dimensions of inflation.
While the State Bank of Pakistan always monitors the price trends very closely, public at large remains unaware of underlying detailed statistical analysis of price trends. It may also be pointed out here that one of the objectives of Inflation Monitor is to make the public more informed about the process of inflation so that our fellow citizens are able to form an independent outlook for the emerging price situation.
(The writer is chief spokesman State Bank of Pakistan)
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