Inflation eases to 8.3pc in November
- By Web Desk -
- Dec 02, 2020
ISLAMABAD: Pakistan’s CPI inflation reduced to 8.3 per cent in November from 8.9pc in October due to a slight drop in the price of perishable products, according to the Pakistan Bureau of Statistics (PBS).
Inflation was recorded at 12.7pc in November 2019, showed data released by the PBS. On a month-on-month basis, it increased by 0.8pc in November as against an increase of 1.3pc in the same month last year.
In urban areas, inflation increased by 7.0pc on a year-on-year basis in November as compared to an increase of 7.3pc in the previous month and 12.1pc in November 2019. On a month-on-month basis, it increased by 0.6pc in November 2020 as compared to an increase of 1.3pc in the previous month and an increase of 1.0pc in November 2019.
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In rural areas, inflation increased by 10.5pc on a year-on-year basis in November 2020 as compared to an increase of 11.3pc in the previous month and 13.6pc in November 2019. On a month-on-month basis, it increased by 1.1pc in November 2020 as compared to an increase of 2.4pc in the previous month and an increase of 1.9pc in November 2019.
Average inflation calculated by the sensitive price index reduced to 9.9pc during November from 12.3pc during October, while the wholesale price index fell to 5.0pc in November from the preceding month’s 5.1pc.
The prices of essential food items, including tomatoes, onions, chicken, eggs, sugar and wheat saw a consistent increase over the past few months. Due to shortages in domestic production, inflation at the start of the current fiscal year was recorded at 9.3pc in July but eased down to 8.2pc in August before rising again to 9pc in September.
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In urban areas, food items whose prices increased in November included chicken 21.36pc, tomatoes 15.68pc, potatoes 8.79pc, onions 5.81pc, vegetables 5.63pc, dry fruits 4.38pc, eggs 2.83pc, butter 2.61pc, condiments and spices 2.6pc and fish 1.89pc.
The commodities that saw a decrease in prices in urban areas include wheat flour, down 4.83pc, wheat 4.1pc, pulse moong 3.54pc and pulse gram 1.94pc. In rural areas, price of chicken rose by 20.76pc, potatoes 15.8pc, tomatoes 9.29pc, onions 6.56pc, sugar 5.39pc, eggs 5.23pc, condiments and spices 3.05pc and butter 1.46pc.