Pakistan’s Consumer Inflation Jumps to 4 Months High - Android

Pakistan’s consumer inflation (CPI) rate jumped to 8.7 percent on a year-on-year basis in February 2021 compared to the increase… Read More

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Pakistan’s consumer inflation (CPI) rate jumped to 8.7 percent on a year-on-year basis in February 2021 compared to the increase of 5.7 percent in the previous month and 12.4 percent in February 2020.

According to CPI data released by the Pakistan Bureau of Statistics (PBS) on a month-on-month basis, CPI increased by 1.8 percent in February 2021 compared to a decrease of 0.2 percent in the previous month and a decrease of 1 percent in February 2020.

Prices of chicken, electricity, oil, ghee, pulses and fruits were increased during February.

The government has been keeping a close eye on the prices of food items. Finance Minister, Dr. Hafeez Sheikh, has been chairing Economic Coordination Committees to take regular updates on the prices of oil, ghee, chicken sugar, and other food items. Despite that, inflation has been continuously worsening and is likely to maintain momentum.

A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities told ProPakistani,

Inflation expectations are going to remain high owing to rising food and energy prices. International oil prices and energy tariffs not helping either. Thus far no expectations of a discount rate hike in the next MPC.

The National Consumer Price Index for February 2021 is increased by 1.80 percent over January 2021 and increased by 8.70 percent over the corresponding month of the last year, i.e., February 2020.

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CPI inflation Urban increased by 8.6 percent on a year-on-year basis in February 2021 compared to an increase of 5 percent in the previous month and 11.2 percent in February 2020.

On a month-on-month basis, it decreased by 2.3 percent in February 2021 compared to a decrease of 0.2 percent in the previous month and a decrease of 1.1 percent in February 2020.

CPI inflation Rural increased by 8.8 percent on a year-on-year basis in February 2021 compared to an increase of 6.6 percent in the previous month and 14.2 percent in February 2020.

On a month-on-month basis, it increased by 1.1 percent in February 2021 compared to a decrease of 0.3 percent in the previous month and a decrease of 1 percent in February 2020.

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WPI inflation on MoM basis increased by 2.2 percent in February 2021 compared to an increase of 2.5 percent a month earlier and a decrease of 0.7 percent in the corresponding month, i.e., February 2020.

Measured by non-food non-energy urban increased by 6.4 percent on (YoY) basis in February 2021 compared to an increase of 5.4 percent in the previous month and 8 percent in February 2020.

On (MoM) basis, it increased by 1.1 percent in February 2021 compared to an increase of 0.9 percent in the previous month and an increase of 0.2 percent in the corresponding month of last year, i.e., February 2020.

Measured by non-food non-energy rural increased by 7.7 percent on (YoY) basis in February 2021 compared to an increase of 7.8 percent in the previous month and 9.4 percent in February 2020.

The top few commodities which varied from the previous month i.e. January 2021 are given below:

URBAN:

Increased: Chicken (37.01%), Electricity charges (29.45%), Foot ware (14.66%), Cooking oil (11.92%), Fruits (9.26%), Vegetable ghee (9.03%), Condiments and Spices (5.50%), Pulse gram (4.48%), Mustard oil (3.80%), Pulse masoor (3.28%), Readymade garments (2.93%), Pulse mash (2.62%), Cotton cloth (2.52%), Hosiery (1.97%), Motor fuel (1.64%). and Rice (1.20%).

Decreased: Tomatoes (58.7%), Potatoes (12.92%), Eggs (10.38%), Onions (7.88%) and Vegetables (7.35%) and Liquefied Hydrocarbons (3.94%).

RURAL:

Increased: Chicken (31.54%), Electricity Charges (29.45%), Fruits (9.92%), Vegetable ghee (7.05%), Cooking oil (5.58%), Mustard oil (3.76%), Pulse Gram (2.46%), Motor Fuels (1.60%), Pulse Masoor (1.57%), Motor Vehicles (1.44%), Pulse Moong (1.18%), Rice (1.18%), Drugs and Medicines (1.11%) and Pulse Mash (1.01%).

Decreased: Tomatoes (56.33%), Eggs (18.41%), Potatoes (17.48%), Onions (8.30%), Vegetables (6.00%), iquefied Hydrocarbons (3.01%) and Construction Input Items (1.57%) and Wheat Flour (1.10%)

On (MoM) basis, it increased by 0.5 percent in February 2021 compared to an increase of 1.1 percent in the previous month and an increase of 0.5 percent in the corresponding month of last year, i.e., February 2020.

Measured by 20 percent weighted trimmed mean urban increased by 7.9 percent on (YoY) basis in February 2021 as compared to 5.7 percent in the previous month and 9.7 percent in February 2020.

On (MoM) basis, it increased by 1 percent in February 2021 compared to an increase of 1 percent in the previous month and an increase of 0.1 percent in the corresponding month of last year, i.e., February 2020.

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Measured by 20 percent weighted trimmed mean rural increased by 9.2 percent on (YoY) basis in February 2021 compared to 8.1 percent in the previous month and by 12.8 percent in February 2020.

On (MoM) basis, it increased by 0.5 percent in February 2021 compared to an increase of 1.2 percent in the previous month and an increase of 0.6 percent in the corresponding month of last year, i.e., February 2020.

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