January 14, 2003	Tuesday	Ziqa'ad 10, 1423

ISLAMABAD, Jan 13: Consumer Price Index inflation shot up by 3.55 per cent during the first half of 2002-03, over the corresponding period of previous year, according to Summary Inflation Rates released by the Federal Bureau of Statistics here on Monday.

The period under review (July-December 2002) saw a rise of 4.33% in inflation in terms of Sensitive Price Indicator.

During December 2002, CPI and SPI soared by 3.34% and 3.28%, respectively, over the corresponding period of 2001. But when compared to previous month (November 2001), CPI decreased by 0.24% and SPI by 0.64%, due mainly to the country’s brief stint with lowered rates of petroleum fuels.

However, WPI registered a quantum jump of 7.1% during December 2002 and of 0.70% over previous month.

Notably, all the three inflation rates had declined by 0.80% (SPI), 0.45% (CPI) and 0.65% (WPI) during July-December 2001.

According to group-wise analysis of CPI, the cost of education and Medicare moved up by 0.68% and 0.25%, respectively, during December 2002 as compared to previous month. As against corresponding period of previous year, their price indices registered increase of 5.08% and 3.13%, respectively.

The other groups which showed rising trend of index in December over previous month were: Apparel, textile & footwear (2.34%); house rent (0.01%); fuel & lighting (0.35%); household furniture & equipment, etc., (0.59%); cleaning, laundry & personal appearance (0.17%).

According to the FBS data, the group ‘fuel & lighting’ stands out as the group with double digit increase in inflation — 10.30% — during the 12-month period of November-December 2001-02. This is followed by transport & communication with a jump of 7.42%.

The data, however, also shows decrease in price index of food & beverages (1.59%) and recreation & entertainment (1.30%). When compared to the corresponding month of previous year, these increased by 2.38% and 0.87%, respectively.

The main commodities which showed a decrease in their prices during December 2002 over November 2002 are as under:

FOOD & BEVERAGES: Potatoes (-24.78%), onions (-24.73%), vegetables (-15.01%), fresh fruits (-6.53%), sugar (-4.81%), spices (-2.64%), condiments (-2.23%), pulse mash (-1.16%) and beverages (-1.01%).

FUEL AND LIGHTING: Bulb & tube (-4.30%) and electricity (-1.14%).

RECREATION AND ENTERTAINMENT: Recreation (-3.41%).

The following main commodities registered an increase in their prices during December 2002 over November 2002:

FOOD & BEVERAGE: Tomatoes (17.80%), eggs (8.88%), chicken farm (4.93%), fish (2.59%), wheat (1.92%), dry fruits (1.76%), meat (1.01%) and wheat flour (0.62%).

APPAREL, TEXTILE & FOOTWEAR: Footwear (8.35%), woollen readymade garments (2.05%) and hosiery (1.53%).

FUEL & LIGHTING: Kerosene (7.53%), natural gas (3.06%) and firewood (0.96%).

HOUSEHOLD, FURNITURE & EQUIPMENT: Household servant (1.07%) and marriage hall charges (1.01%).

TRANSPORT & COMMUNICATION: Petrol (7.40%), diesel (5.64%) and transport fares/charges (1.38%).

WPI: According to the FBS data, WPI for the group fuel, lighting & lubricants jumped by more than a quarter during December 2002, over the corresponding period of previous year.

The increases in respect of other groups were as follows: Food (3.11%), raw materials (5.26%), manufactures (1.46%) and building materials (00.79%).