• Monday, February 18, 2019

Pakistan’s inflation rate jumps to 7.19 per cent in January 2019

Discussion in 'Pakistan Economy' started by Champion_Usmani, Feb 8, 2019.

  1. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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    LAHORE - Pakistan Bureau of Statistics has revealed that the Consumer Price Index (CPI) based inflation increased by 7.19 per cent in January 2019, the highest level in over four years.

    On a month-on-month basis, the CPI increased by 1 per cent in January 2019 against December 2018.

    The average inflation rate during July-January (2018-19) was recorded at 6.21 per cent over the same period last year.

    The PBS collects retail and wholesale prices and computes the CPI, Wholesale Price Index (WPI) on a monthly basis and Sensitive Price Indicator (SPI) on weekly basis. In January 2019 the CPI increased by 1%, WPI decreased by 0.21% while SPI increased by 0.41% respectively.

    The Pakistan Bureau of Statistics said that the Consumer Price Index (CPI) based inflation has been increased by 7.19 per cent in January 2019 as compared to the same period last year.

    Rising electricity and liquefied natural gas prices and a spike in tomatoes, garlic and medicine were the main reason behind the January month-on-month inflation rise.

    The CPI increased by 1 per cent in January 2019 against December 2018. The average inflation rate during July-January (2018-19) stood at 6.21 per cent over the same period last year.

    During the week under review, average prices of 09 items registered decrease included garlic, LPG Cylinder, eggs, potatoes, masoor pulse, sugar, vegetable ghee (tin), red chilly and moong pulse.

    While that of 15 items which recorded increase in their average prices included tomatoes, chicken (farm), bananas,onions, gur, milk (fresh), rice (irri-6), vegetable ghee (loose), mustard oil, beef, wheat flour (bag), tea (prepared), gram pulse, mutton and wheat. The remaining 29 items’ prices remained unchanged.

    https://en.dailypakistan.com.pk/hea...-rate-jumps-to-7-19-per-cent-in-january-2019/

    @Maarkhoor @SmartGeek @Jinn Baba @CIS-TRANS @Canuck786 @BATMAN @The Sandman @Major Sam @Yaseen1 @Musafir117 @Proudpakistaniguy
     
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  2. Canuck786

    Canuck786 FULL MEMBER

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    The increase is probably under reported. As the prices suggest a probable 10-12% increase.
     
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  3. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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    Inflation hit four and half year high in January to 7.19pc

    ISLAMABAD: Pakistan’s annual inflation rate surged to 7.19 per cent in January from 6.17 per cent a month earlier.

    According to Pakistan Bureau of Statistics, the inflation rate is highest ever in the last four and a half years.

    The unexpected rise in the inflation is attributed to the devaluation of rupee against the dollar by the State Bank of Pakistan.

    On a month-on-month basis, prices increased by 1 per cent in January.

    Rising liquefied natural gas and electricity prices as well as a spike in tomatoes, garlic and medicine were the main reason behind the January month-on-month inflation rise.

    Weekly inflation for the week ended on January 31, for the combined income group witnessed an increase of 1.65 per cent as compared to the previous week.

    Sensitive Price Indicator (SPI) for the week under review in the above-mentioned group was recorded at 242.14 points against 238.21 points registered in the previous week, according to data of Pakistan Bureau of Statistics (PBS).

    Similarly, as compared to the corresponding week of last year, the SPI for the combined group in the week under review increased by 8.89 per cent.

    The weekly SPI has been computed with base 2007-08=100, covering 17 urban centres and 53 essential items for all income groups and combined.

    Meanwhile, the SPI for the lowest income group up to Rs8,000 was also increased by 0.64 per cent as it went up from 220.80 points in the previous week to 222.21 points in the week under review.

    As compared to last week, the SPI for the income groups from Rs8,001-12,000, Rs12,001-18,000, 18,001-35,000 and above Rs35,000 also increased by 0.72 percent, 0.75 percent, 1.82 percent and 2.62 percent respectively.

    https://www.thenewstribe.com/2019/02/02/472884/
     
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  4. Skull and Bones

    Skull and Bones ELITE MEMBER

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    It should touch 12-15% in the next quarter.
     
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  5. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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    Medicine Prices are sky rocketing...



    PTI govt is going to finish poor people, not poverty...



    This PTI govt is a total disaster...

     
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  6. Yaseen1

    Yaseen1 SENIOR MEMBER

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    This govt will make Pakistan venuzvela and we will see hyperinflation at the end of their 5yrs tenure
     
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  7. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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    Ahsan Iqbal's Views..









     
  8. randomradio

    randomradio SENIOR MEMBER

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    Inflation is expected to hit the 15% mark by June.
     
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  9. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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    Ahsan Iqbal's Views...











    Ahsan Iqbal's Views...

     
  10. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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  11. Hareeb

    Hareeb FULL MEMBER

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    Bad omen for economy and will shrink the struggling economy soon.

    The prices are raised up according to WTO rule which states that importers (drugs importers in this case) should not lose due to low manufacturing cost locally and prices are regulated to make the market competitive. In past recent years, many multinational companies have wrapped up their business due to low drug prices which in turn is affecting the availability of good quality medicines in the market.
    The second reason is devaluation of dollar which has increased the manufacturing cost as well as of raw materials.
     
  12. randomradio

    randomradio SENIOR MEMBER

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    The problem for PTI is they have no experience running the country, and they came in power when you need much more experienced politicians to deal with the current problem, not newbies.
     
  13. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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  14. Canuck786

    Canuck786 FULL MEMBER

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    It seems only the burger families can survive in Naya Pakistan as no one seems to care about the Bun Kabob families.
     
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  15. Champion_Usmani

    Champion_Usmani SENIOR MEMBER

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    Ahsan Iqbal's Views...



    PTI govt's bullying of the Nation continues unabated...