Inflation Recorded at 8.3% in November

As per to the Pakistan Bureau of Statistics (PBS), Pakistan’s Consumer Price Index (CPI) inflation declined to 8.3% in November from 8.9% in October due to a slight drop in the price of perishable products, Inflation was recorded at 12.7% in November 2019, showed data released by the Pakistan Bureau of Statistics (PBS).

On a month-on-month basis, it increased by 0.8% in November as against an increase of 1.3% in the same month last year.

In urban areas, inflation hiked by 7.0% on a year-on-year basis in November as compared to an increase of 7.3% in the previous month and 12.1% in November 2019. On a month-on-month basis, it increased by 0.6% in November 2020 as compared to an increase of 1.3% in the previous month and an increase of 1.0% in November 2019.

Inflation hiked in rural areas by 10.5% on a year-on-year basis in November 2020 as compared to an increase of 11.3% in the previous month and 13.6% in November 2019.

On a month-on-month basis, it increased by 1.1% in November 2020 as compared to an increase of 2.4% in the previous month and an increase of 1.9% in November 2019.

Average inflation calculated by the rural areas reduced to 9.9% during November from 12.3pc during October, while the wholesale price index fell to 5.0% in November from the preceding month’s 5.1%.

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 9.3% in July but eased down to 8.2% in August before rising again to 9% in September.

Food items in urban areas whose prices increased in November included chicken 21.36%, tomatoes 15.68%, potatoes 8.79%, onions 5.81%, vegetables 5.63%, dry fruits 4.38%, eggs 2.83%, butter 2.61%, condiments and spices 2.6% and fish 1.89%.

The commodities that saw a decline in prices in urban areas include wheat flour, down 4.83%, wheat 4.1%, pulse moong 3.54% and pulse gram 1.94%.

In rural areas, price of chicken increased by 20.76%, potatoes 15.8%, tomatoes 9.29%, onions 6.56%, sugar 5.39%, eggs 5.23%, condiments and spices 3.05% and butter 1.46%.