The Consumer Price Index (CPI), a key indicator of inflation, rose 11.25 percent in February 2008 with soaring 16.05 percent food inflation over the same period of last year.
The February CPI was also up 0.49 percent over January while July-February 8.90 percent inflation has indicated a perpetual rise in overall trend which might go beyond double digits by the end of the year, putting more pressure on the economy.
The data on CPI, released by the Federal Bureau of Statistics on Tuesday, showed that comparing year-on-year basis in February 2008 the CPI rose at an average 11.25 percent against 7.39 percent in the corresponding period of last year.
The food prices were up by 16.25 percent in February from a year ago. The State Bank of Pakistan had already cautioned that continued government borrowings from the bank would result in excessive monetary growth and would perpetuate inflationary pressures.
The food inflation, having 40 percent weight in CPI basket, rose 16.05 percent in February and is likely to go up in March following oil prices adjustment. Economists see the inflationary pressure suppressing wage earners as the pay increase made in the budget has already been offset by previous surge in prices.
The cost of apparel, textile and footwear increased by 6.66 percent during the period under review; house rent 9.96 percent, fuel lighting 6.17 percent, house furniture and equipment 6.35 percent, transport 2.97 percent, recreation and entertainment 0.74 percent education 3.43 percent, cleaning, laundry and personal appearance 13.04 percent and medicare 7.90 percent.
The main commodities, which showed an increase in their prices during February 2008 over previous month included in food & beverages, tomatoes (45.60 percent), vegetables (29.15 percent), pulse masoor (15.79 percent), condiments (15.27 percent), cooking oil (8.58 percent), vegetable ghee (6.28 percent), fresh fruits (5.66 percent), rice (5.22 percent), mustard oil (4.33 percent), readymade food (2.97 percent), tea (2.77 percent), fish (2.57 percent), dry fruits (2.23 percent), sweetmeat and nimco (2.17 percent), pulse gram (2.01 percent), besan (1.17 percent), potatoes (1.11 percent), gram whole (1.09 percent) and betel leaves & nuts (0.95 percent).
Woollen readymade garments (2.61 percent), kerosene (17.16 percent) and firewood (3.08 percent), plastic products (2.13 percent), marriage hall charges (1.88 percent), utensils (1.45 percent), household equipment (1.18 percent) and furniture readymade (1.10 percent), petrol (9.37 percent), diesel (9.29 percent), tyres & tubes (1.63 percent) and vehicles (1.17 percent), toilet soaps (11.77 percent), jewellery (5.31 percent), shaving articles (1.93 percent), hair cut & beauty parlour charges (1.89 percent) and washing soap & detergent (1.64 percent).
The wholesale price impact of that is yet to be passed on to consumers increased by 16.36 percent over the corresponding month of last year with food prices going up 18.26 percent, raw material 8.90 percent, fuel lighting 23.51 percent, manufacturing 8.75 percent and building materials 10.85 percent.
The main commodities, which showed an increase in the prices in February 2008 over last month included tomatoes (36.63 percent), vegetables (26.10 percent), masoor (16.46 percent), condiments (8.99 percent), cooking oil (6.21 percent), bajra (5.92 percent), vegetable prepared/preserved (4.94 percent), vegetable ghee (4.73 percent), jowar (4.70 percent), spices (4.50 percent), rice (4.46 percent), mustard & rapeseed oil (4.08 percent), cottonseed oil (3.49 percent), maize (3.45 percent), beans (3.26 percent), dry fruits (2.74 percent), fresh fruits (2.18 percent), besan (1.64 percent), tea (1.44 percent), gram split (1.32 percent) and oil cakes (1.03 percent).
Raw materials: Mustard/rapeseeds (5.79 percent), tobacco (2.97 percent), hides (1.50 percent), pig iron (1.27 percent), cottonseed (1.19 percent) and skins (1.16 percent). Fuel, lighting & lubricants: Kerosene oil (9.97 percent), motor spirit (9.32 percent), furnace oil (4.42 percent), diesel oil (4.37 percent), firewood (4.19 percent), coke (1.79 percent) and mobil oil (1.47 percent).
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