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ISLAMABAD, June 12: Inflation based on Consumer Price Index (CPI) soared by 4.15 per cent during the period July-May of 2001-02 compared to the same period of previous year, says the price data released by the Federal Bureau of Statistics (FBS) here on Wednesday.
The CPI index, starting at 100 in July 2001, consequently rose to 104.15 during the first 11 months of the current financial year.
The Sensitive Price Indicator (SPI), using 2001-02 as the new base and derived from the average of prices affecting four major economic strata, thus diluting the effect on the lowest- and lower-middle income groups, was shown to have risen to 103.43. This denotes an increase of 3.43 per cent in SPI during the current financial year so far.
As regards the Wholesale Price Index (WPI), which is still based on the 1990-91 benchmark, went up 2.10 per cent during the period July-May of 2001-02, according to FBS.
During May 2002, SPI increased by 3.44%, CPI 2.91% and WPI by 2.55% as compared to corresponding month of previous year. When compared with April 2002, these decreased by 1.52%, 0.85% and 0.12%, respectively.
Thanks to yet another bout of price spurt in respect of petrol, diesel, gas and electricity, the group “Fuel & lighting” soared by 6.86% over May 2001, and by 0.80% over April 2002. This raised the CPI for the group “Transport & communication” by 6.23% as compared to the corresponding month of previous year.
During the month under review, education became dearer by 4.23% as compared to May 2001. As regards other groups, the price increases were as follows:
Food, beverages & tobacco: 2.49%; Medicare: 4.19%; Apparel, textile & footwear: 2.60%; House rent: 1.30%; Household, furniture & equipment etc: 2.59%; and Cleaning, laundry & personal appearance: 2.98%.
The only exception to the general trend of price spiral was represented by the group “Recreation & entertainment” which decreased by 2.83% over May 2001. The reason for this may lie in the deepening recession, which reduced the demand for recreation, etc., in the face of rising unemployment and poverty in the country.
The main commodities the prices of which increased in May 2002 as compared to April 2002 were:
FOOD & BEVERAGES: Potatoes (20.12%), farm chicken (2.76%), beverages (2.51%), rice (1.54%), betel leaves & nuts (1.31%), condiments (1.17%) and gur (1.13%).
FUEL & LIGHTING: Kerosene (10.11%) and firewood (0.81%).
EDUCATION: Tuition fee (1.20%), computer & allied products (1.33%) and text books (1.28%).
CLEANING, LAUNDRY & PERSONAL APPEARANCE: Toilet soap (3.72%), jewellry (1.64%), hair cut & beauty parlour charges (1.17%) and washing soap & detergents (0.81%).
MEDICARE: Drugs & medicines (3.22%).
The main commodities which showed a decrease in their prices during May 2002 over April 2002 were as under:
FOOD & BEVERAGES: Tomatoes (46.40%), onions (27.03%), vegetables (15.91%), wheat (7.00%), wheat flour (5.33%), fresh fruits (3.83%), gram whole (3.50%), besan (1.89%), mustard oil (1.77%), pulse mash (1.72%), pulse gram (1.68%) and pulse masoor (1.07%).
The WPI rose to 250.88 during May 2002 — denoting an increase in wholesale prices of raw materials, vegetables, fruits, etc., of 150.88% since 1990-91 that is still the base year of WPI.
