Inflation in the Country has Been Steadily Rising

Inflation in the Country has Been Steadily Rising

ISLAMABAD: Inflation in the country has been steadily rising, resulting in inflation reaching 11% in October. According to a report issued by the Pakistan Institute of Statistics (PBS), the base air was changed from 08-20007 to 16-2015. According to a  report, PBS estimates inflation based on the Consumer Price Index (CPI), based on a new base-based calculation, which was at 1.8 levels last month.

The change in base air means that current prices for the Consumer Price Index will now be compared to those based on prices that were in the fiscal year 2016. Therefore, inflation based on the new base air inflation stood at 11.04 percent in October and 11.4 percent in the previous month.

It may be noted that the World Monetary Fund (IMF) had estimated inflation in Pakistan to reach 13%, but according to government estimates, the inflation rate would remain at 11%, which has already crossed in recent months. According to the data, in the month of October, the core inflation rate was 7.8 percent in urban areas and 8.6 percent in rural areas.

Further analysis reveals that on an annual basis, food prices in urban areas have risen to 13.7 percent, while on a monthly basis, the rate of increase is 1.4 percent. 

Similarly, the annual food inflation rate in rural areas was 14.6 percent and 2.6 percent on a monthly basis.

According to the report, the food prices in urban areas are tomatoes (34.97%), eggs (19.74%), fresh vegetables (17.69%), potatoes (10.08%), onions (4.98%), beans. (2.53 percent), fish (2 percent), dried fruits (1.86 percent), dried milk (1.79 percent), basin (1.28 percent), wheat (1.22 percent), meat (1.17 percent), lentils (1.04 percent). ) And fort (one percent).

In urban areas, prices of sugar declined (1.37%), poultry meat (18.17%) and fresh fruits (1.39%).

Tags

News

Related Posts