Inflation surges by 1.41 per cent

ISLAMABAD: Latest figures show the Consumer Price Index (CPI) rose by 1.41 per cent during April 2009 over the month of March.

CPI inflation during the first 10 months of the current financial year increased by 22.35 per cent over the corresponding period of the last financial year.

According to Federal Bureau of Statistics, prices of non-perishable items surged by 16.22 per cent and perishable items by 22.71 per cent in April 2009 over April 2008.

Ten-month average Wholesale Price Index inflation stood at 21.44 per cent between July 2008 to April 09.

Last year during the same period, WPI stood at 13.7 per cent. Increase in WPI-based inflation indicates a further increase in retail prices of essential commodities.

CPI covers retail prices of 374 items in 35 major cities and reflects roughly the changes in the cost of living in urban areas.

In April 2009, fuel and lighting charges went up by 26.68 per cent, education 23.04 per cent, house rent 18.86 per cent, cleaning laundry and personnel appearances 16.03 per cent, recreation and entertainment 13.86 per cent, medical cover 13.36 per cent, household furniture and equipment 12.63 per cent, apparel textile and footwear 12.34 per cent and transport and communications charges increased by 8.65 per cent as compared to the same month of 2008.

A high inflationary trend in food has been noticed since the start of the last fiscal year (July 2007).

Food inflation stood at 8.47 per cent. In August, it was 8.62 per cent, September 12.97 per cent, October 14.67 per cent, November 12.47 per cent, December 12.21 per cent, January, 2008 18.25 per cent, February 16.05 per cent, March 20.61 per cent, April 25.5 per cent, May 28.48 per cent, June 32.05 per cent, July 33.81 per cent, August 34.09, September 29.91, October 31.67 per cent, November 30.44 per cent, December 27.92 per cent; January 2009 21.61 per cent, February 22.90 per cent, March 19.73 per cent and during April it stood at 17.04 per cent.

The Wholesale Price Index (WPI) stood at 8.30 per cent during the month under review as compared to 23.50 per cent in corresponding month of the last fiscal year.

In the basket of WPI, raw material prices went up by 18.44 per cent, food 17.18 per cent and manufactures by 5.15 per cent while fuel, lighting and lubricants expenses were down by 4.70 per cent in April over the corresponding month of the last fiscal year.

In raw material, wholesale cotton price went up by 7.34 per cent and cotton seed 3.23 per cent. Furnace oil prices were up by 14.70, cotton yarn 4.05 per cent, other electrical goods 3.35 per cent and blended yarn by 1.75 per cent over March 2009.

Wholesale prices of tomato went up by 56 per cent, vegetables 14.47 per cent, potato 9.54 per cent, gur 8.89 per cent, wheat flour 7.31per cent and fresh fruits by 7.10 per cent over March 2009.