CPI eases to 1.8% in August on tumbling oil prices

The Consumer Price Index (CPI) inflation hit record low level of past 12 years, chalking up 1.8 percent Year on Year increase in the month of August 2015 mainly due constant global commodities’ prices’ downtrend.According to Pakistan Bureau of Statistics (PBS), CPI inflation was registered at a 12-year low of 1.7 percent in August as compared to 7.0 percent in same month of 2014.June. CPI inflation, General, increased by 1.7 percent on year-on-year basis in August 2015 as compared to 1.8% in the previous month.On month-on-month basis, it increased by 0.2 percent in August 2015 as compared to increase of 0.4 percent in the previous month and 0.3 percent in August 2014.

Core inflation measured by non-food non-energy CPI (Core NFNE) increased by 4.0 percent on (YoY) basis in August 2015 as compared to 4.1 percent in the previous month and by 7.9 percent in August 2014. On (MoM) basis, it increased by 0.1 percent in August 2015 as compared to increase of 0.6 percent in the previous month and 0.2 percent in August 2014.Core inflation, measured by 20 percent weighted trimmed mean CPI (Core Trimmed) increased by 2.8 percent on (YoY) basis in August 2015 as compared to 2.8 percent in the previous month and by 7.1 percent in August 2014. On (MoM) basis, it increased by 0.1 percent in August 2015 as compared to increase of 0.5 percent in the previous month and an increase of 0.2 percent in August 2014.

Sensitive Price Index (SPI) inflation on YoY decreased by 1.5 percent in August 2015 as compared to decrease of 0.5 percent a month earlier and an increase of 5.2 percent in August 2014. On MoM basis, it decreased 0.2 percent in August 2015 as compared to an increase of 0.3 percent in the month earlier and increase of 0.8 percent in August 2014.Wholesale Price Index (WPI) inflation on YoY basis decreased by 2.9 percent in August 2015 as compared to decrease of 2.9 percent a month earlier and an increase of 3.3 percent in August 2014. WPI inflation on MoM basis it decreased by 0.5 percentin August 2015 as compared to decrease of 0.4 percent a month earlier and decrease of 0.5 percent in August 2014.

The PBS data stated that top few commodities which varied from previous month were, tomatoes (33.09%), fresh vegetables (17.87%), eggs (12.46%), tea (7.21%), pulse gram (6.54%), besan (4.39%), potatoes (3.65%) and gram whole (3.05%).The food items that prices were decreased in August as compared to July were Chicken (16.71%), Fresh Fruits (8.82%), Onions (3.09%) and Pulse Moong (2.66%).Non-food item increased in August was Electricity (1.47%) and decreased was Kerosene Oil (3.37%). The food items that prices increased on Year-on-Year basis were Pulse Gram (46.77%), Besan (39.41%), Tea (21.80%), Pulse Mash (17.39%), Tomatoes (16.69%), Cigarettes (16.38%), Gram Whole (14.66%) and Sugar (13.68%).

The food items that were decreased on YoY Potatoes (62.31%), Cooking Oil (12.55%), Vegetable Ghee (11.09%) and Rice (10.89%). Non-food items increased on YoY were Woolen Readymade Garments (10.31%) while Kerosene Oil (22.56%) and Motor Fuel (19.67%) were decreased.

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