ISLAMABAD: The Consumer Price Index-based inflation of September 2020 increased by 1.54 percent over August 2020 while jumped to 9.04 percent over the corresponding month of last year, ie, September 2019, as a result of increase in food items. According to the data released by Pakistan Bureau of Statistics (PBS), month-on-month basis the top few commodities which contributed to inflation included tomatoes (44.07 percent), vegetables (30.33%), chicken (18.31%), onion (14.51%),
potato (6.18%), eggs (5.2%), pulse Gram (4.51%), pulse moong (3.46%), spices (3%), pulse mash (2.76%), pulse masoor (1.59%) and milk fresh (1.16%).
Decreased: Fresh fruits (6.19%), sugar (1.82%) and gram whole (0.48%).
Year-on-year basis food Items which contributed to inflation included potatoes (67.2%), tomatoes (51.86%), wheat (42.13%), spices (40.91%), beans
(40.27%), pulse moong (39.31%), eggs (38.61%), pulse mash (34.55%), sugar (25.4%), butter (23.43%), wheat flour (20.18%), pulse masoor (20.11%), vegetable ghee (15.82%), gur (15.22) bakery and confectionary (15.21%), vegetables (14.14%), milk fresh (13%), meat (11.97%), cooking oil (11.14%), dry fruits (10.99%) and pulse gram (10.16).
However, year-on-year prices of some items decreased including onions (30.82%), Chicken (23.6%), Fish (7.55%) and Fresh fruits (1.94%).
The Consumer Price Index (National) by Group of Commodities and Services (Base 20 CPI inflation general, increased by 9 percent on year-on-year basis in September 2020 as compared to an increase of 8.2 percent in the previous month and 11.4 percent in September 2019. On month-on-month basis, it increased by 1.5 percent in September 2020 as compared to an increase of 0.6 percent in the previous month and an increase of 0.8 percent in September 2019.
CPI inflation urban, increased by 7.7 percent on year-on-year basis in September 2020 as compared to an increase of 7.1 percent in the previous month and 11.6 percent in September 2019. On month-on-month basis, it increased by 1.3 percent in September 2020 as compared to an increase of 0.8 percent in the previous month and an increase of 0.7 percent in September 2019.
CPI inflation rural, increased by 11.1 percent on year-on-year basis in September 2020 as compared to an increase of 9.9 percent in the previous month and 11.1 percent in September 2019. On month-on-month basis, it increased by 2.0 percent in September 2020 as compared to an increase of 0.4 percent in the previous month and an increase of 0.8 percent in September 2019.
SPI inflation on YoY increased by 12.0 percent in September 2020 as compared to an increase of 11.7 percent a month earlier and an increase of 14.7 percent in September 2019.
On MoM basis, it increased by 2.1 percent in September 2020 as compared to an increase of 0.9 percent a month earlier and an increase of 1.9 percent in
September 2019.
WPI inflation on YoY basis increased by 4.3% percent in September 2020 as compared to an increase of 3.3 percent a month earlier and an increase of 15.9 percent in September 2019. WPI inflation on MoM basis increased by 1 percent in September 2020 as compared to a decrease of 1.3 percent a month earlier and an increase of 0.1 percent in corresponding month of last year i.e. September 2019.
The month on month basis the top few commodities which varied from previous month and contributed in urban CPI includes tomatoes (44.07%), vegetables (30.33%), chicken (18.31%), onions (14.51%),potatoes (6.18%), eggs (5.2%), pulse Gram (4.51%), pulse moong (3.46%), spices (3%), Pulse Mash (2.76%), pulse masoor (1.59%) and Milk Fresh (1.16%). Decreased: fresh fruits (6.19%), sugar (1.82%) and gram whole (0.48%).
Non-food items increased: Construction input items (2.36%), transport services (1.87%), medical tests (1.55%) and plastic products (0.78%).
However prices of some items decreased including Liquefied Hydrocarbons (1.51%) and Electricity charges (0.62%).
Year-on-year: Top few commodities which varied from previous year, ie, September 2019 for urban CPI include Potatoes (67.2%), Tomatoes (51.86%), Wheat (42.13%), Spices (40.91%), Beans (40.27%), Pulse moong (39.31%), Eggs (38.61%), Pulse mash (34.55%), sugar (25.4%), butter (23.43%), wheat flour (20.18%), Pulse masoor (20.11%), vegetable ghee (15.82%), gur (15.22) bakery and confectionary (15.21%), vegetables (14.14%), Milk fresh (13%), Meat (11.97%), Cooking oil (11.14%), Dry Fruits (10.99%) and pulse gram (10.16).
Prices of some items decreased including onions (30.82%), Chicken (23.6%), Fish (7.55%) and Fresh fruits (1.94%).
Non-food items increased: woolen cloth (13.96%), electricity charges (11.8%), furniture and furnishing (9.43%),tailoring (9%), cotton cloth (8.92%), motor vehicle accessories (8.1%), drugs and medicines (8.06%), medical tests (7.45%), Construction wage rates (6.86%), Construction input items(6.53%), footwear (6.32%), hosiery (5.41%), stationery (4.64%), transport services (5.09%) and House rent(4.29%).
The Wholesale Price Index (WPI) on the other hand increased by 1.05 pc over August 2020 and 4.26 pc increase over corresponding month of last year. Keeping in view the low reading of the WPI, economic experts believe that CPI in coming months may reduce.
CPI is a main gauge of price changes at the retail level of all goods and services consumed by private households and roughly reflect changes in cost of living of entire Pakistan.
According to CPI basket, on average each Pakistani spends 34.58 per cent of his income on food and beverages, 23.63 per cent on house rent, water, gas, electricity and fuel, 8.6 pc on clothing & footwear; 6.92pc on hotelling, 5.91pc on transportation, 4.1 pc on furnishing & household equipment maintenance, 3.79pc on education, 2.7 pc on health, 2.21pc on communication, but the least it spends 1.59pc of its income spend on recreation & culture.
Food inflation in September 2020 stood at 14.74 pc against 12.89 pc in previous month. It was followed by clothing & footwear prices with an increase of 9.13 pc, health charges 8.25pc, hotelling 8.25pc, furnishing & household equipment maintenance charges up by 7.89pc, Charges of utilities (housing, water, electricity, gas and fuel) increased by 6.10pc, Alcoholic beverages and Tobacco 5.86pc, recreation & culture 3.93pc, education 0.98pc and communication charges up by 0.29pc over corresponding month of last year. However, transportation charges declined by 1.53 pc over corresponding month of last year.
Price hike in almost all categories was more than previous month. However, the food was the showed highest increase that strongly jacked up the overall inflation.
Urban CPI inflation during September 2020 increased by 7.7pc as compared to an increase of 7.1pc in the previous month and 11.6pc in September 2019. On month-on-month basis, it increased by 1.3pc in September 2020 as compared to an increase of 0.8pc in the previous month and an increase of 0.7pc in September 2019.
Rural CPI inflation also increased by 11.1 pc on year-on-year basis in September 2020 as compared to an increase of 9.9pc in the previous month and 11.1pc in September 2019. On month-on-month basis, it increased by 2.0pc in September 2020 as compared to an increase of 0.4pc in the previous month and an increase of 0.8pc in September 2019.
During the month under review, core inflation (excluding food and energy costs) of urban CPI increased by 5.5 percent year on year basis as compared to increase of 5.6 percent in the previous month and 8.4 percent in September 2019. On month on month basis, it increased by 0.3pc in September 2020 as compared to increase of 0.7 pc in previous month and an increase of 0.4pc in corresponding month of last year.
Core inflation of rural CPI increased by 7.8pc on (YoY) basis in September 2020 as compared to an increase of 7.6pc in the previous month and 8.8pc in September 2019. Whereas, on month on month basis, it increased by 0.4pc in September 2020 as compared to an increase of 0.8pc in previous month, and an increase of 0.3pc in corresponding month of last year.
SPI that gauges essential kitchen items prices on weekly basis, increased by 12pc year on year in September 2020 as compared to an increase of 11.7pc a month earlier and an increase of 14.7pc in August 2019. On MoM basis, it increased by 2.1pc in September 2020 as compared to an increase of 0.9pc a month earlier and an increase of 1.9pc in July 2019.
Over the previous month, tomatoes price increased by 44 pc, Vegetables 30.3pc, Chicken 18.3pc, Onions 14.5pc, Potatoes 6.2pc, Eggs 5.2pc, Pulse Gram 4.5pc, Pulse Moong 3.5pc, Spices 3pc, Pulse Mash 2.76pc, Pulse Masoor 1.59pc and Milk Fresh 1.16pc. Construction input items charges increased by 2.36pc, Transport services 1.87pc, Medical tests 1.55pc and Plastic products price increased by 0.78pc over previous month.
However, Fresh fruits price down by 6.19 pc, Sugar 1.82pc, Gram Whole 0.48pc, Liquefied Hydrocarbons 1.51pc and Electricity charges down by 0.62pc over previous month.
Copyright Business Recorder, 2020
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