Falling fuel prices fail to fall inflation

KARACHI: Regardless of declining trend in petroleum prices, the inflation rate during month of January 2015 recorded slight increase of 0.08 per cent, ARY News reported.

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According to the statistics revealed by Pakistan Bureau of Statistics (PBS), the Consumer Price Index (CPI) based inflation rate for January 2015 was recorded at 3.88 per cent.

Among  food items tomatoes witnessed increase of 7.3 percent in the price, chicken 5 percent , pulse gram 3.96 per cent, eggs 3.92 per cent, gram flour2.47 percent  and pulse moong 1.81 percent.

Similarly,  the non-food items that witnessed increase in prices during the month included firewood whole( 2.99 percent), house rent (1.99 percent) and medical tests (1.8 percent).

On the other hand, among food items potatoes recorded decrease of 25.37 percent  in the prices, cooking oil 2.27 per cent, beans 2.17 percent, rice 1.97 percent and sugar 1.53 percent.

Similarly the non-food items that witnessed decrease in prices included kerosene oil (7.03 percent), motor fuel (4.01 percent) and transport services (1.56 percent).

Meanwhile, the inflation rate during the first seven month of current fiscal year ( July 2014 – January 2015) was remained at 5.77 per cent.

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Falling fuel prices fail to fall inflation

by Zohaib Kazmi