CPI inflation has been recorded at 8.9 percent for October 2020, against 9.04 percent in September. Although general inflation reduced yet, food inflation is still in double-digit and has increased.
Last year, in October 2019, the CPI was at 11.04 percent, the Pakistan Bureau of Statistics (PBS) on Monday reported.
Average inflation of July-October 2020 was recorded at 8.86pc compared to 10.32pc in corresponding period of last year.
In FY20, the average inflation was recorded at 10.74pc, with peak reading in January of 14.56 percent year-on-year.
The latest CPI bulletin says that on a month-on-month basis, inflation increased by 1.7 percent in October 2020 as compared to an increase of 1.5pc in the previous month and an increase of 1.8pc in October 2019.
Last week, ‘The Newser’ had predicted CPI at up to 8.9 pc through independent economists and Weekly SOI data. And now, it clocked in at the same number of 9.8 pc.
Food inflation in October stood at 16.58 pc against 14.74 pc in the previous month. It was followed by clothing & footwear prices with an increase of 9.13 pc (last month 8.96pc), health charges 8.25pc, hoteling 7.82pc (8.25pc), furnishing & household equipment maintenance charges up by 7.99pc (7.89pc), Charges of utilities (housing, water, electricity, gas and fuel) increased by 2.73pc (6.10pc), Alcoholic beverages and Tobacco 5.97pc (5.86pc), recreation & culture 3.94pc (3.93pc), education 1.38pc (0.98pc) and communication charges up by 0.31pc (0.29pc) over corresponding month of last year. However, transportation charges declined by 0.31pc (minus 1.53 pc) over the corresponding month of last year.
Wholesale Price Index
The Wholesale Price Index (WPI) was recorded at 5.13pc in October 2020 as compared to an increase of 4.26pc a month earlier and an increase of 13.27pc in October 2019. Four-month average WPI was recorded at 3.98pc against 14.10pc in the same period of the last year.
WPI inflation on the month on month basis increased by 2.9pc in October 2020 as compared to a decrease of 1.0 pc a month earlier and an increase of 2 pc in October 2019.
SPI that gauges essential kitchen items prices on a weekly basis, increased by 12.3pc year on year in October 2020 as compared to an increase of 12pc a month earlier and an increase of 15.1 percent in October 2019. On the MoM basis, it increased by 3pc in October 2020 as compared to an increase of 2.1pc a month earlier and an increase of 2.7pc percent in Oct 2019.
Food and Non-Food prices
Over the previous month, Tomatoes’ price increased by 48 pc, Onions 39 pc, Chicken 27pc, eggs 24pc, Wheat and wheat products by 8 pc, Sugar 5pc, Wheat flour 4 pc, Besan 3pc and moong pulse price increased by 2pc. However fresh vegetable prices down by 6 pc, Fresh fruits 3 pc and Condiments & Spices slashed by 2 pc over the previous month.
In the non-food category, the doctor fee in one month increased by 3pc, Liquified Hydrocarbons 2pc, Furniture and furnishing 2pc, Hosiery 2pc. Household textiles, Therapeutic Appliances and Equipment, Motor vehicle accessories, Household equipment, House rent, Household servant, Transport services, and Hospital services charges increased by one percent each over the previous month.
