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June inflation eases to 8.9pc

Updated July 03, 2019

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The average inflation between July-June FY10 rose to 7.34pc , from 3.92pc - the highest since 2013-14. — Dawn/File
The average inflation between July-June FY10 rose to 7.34pc , from 3.92pc - the highest since 2013-14. — Dawn/File

ISLAMABAD: Pakistan’s overall inflation clocked in at 8.89 per cent year-on-year in June, sliding from 9.1pc in May, mainly due to a slight slowdown in food price levels.

According to data released by the Pakistan Bureau of Statistics, the Consumer Price Index (CPI) and Wholesale Price Index (WPI) in June was recorded at 8.89pc and 12.69pc, respectively as most of the essential items maintained an upward trend.

The average inflation between July-June FY19 rose to 7.34pc , from 3.92pc - the highest since 2013-14 when it stood at 8.6pc.

The data showed that out a total of 89 items, prices of about 83 essential items increased year-on-year in June compared to reduction in only six essential items. Likewise, prices of 81 major essential items went up month-on month while eight fell.

Similarly, of the prices 112 items monitored by PBS for WPI, 106 increased year-on-year as against reduction in six. Similarly, the prices of only 11 items in the WPI declined in June when compared to previous month (May 2019) while the prices of 101 items in the wholesale market increased.

The CPI grew 8.9pc year-on-year in June as against 9.1pc in the previous month and 5.2pc in same period last year. On a monthly basis, it increased by 0.4pc in June 2019 as compared to an increase of 0.8pc in the previous month and an increase of 0.6pc in corresponding month i.e. June 2018.

Core inflation, measured by non-food non-energy CPI, increased by 7.2pc on yearly basis in June versus 7.2pc in previous month and 7.1pc in June 2018.

Meanwhile, core trimmed inflation recorded an increase of 7.3pc year-on-year in June as against to 7.5pc in the previous month and by 5.4pc in same period last year.

According to the data, price of onions rose by more than 72pc year-on-year, followed by daal moong 43pc, sugar 34pc, gur 28pc, cigarettes 24pc, fresh vegetables 18pc, spice and daal mash 17pc, potatoes 13pc, meat and pulse gram 13pc and daal masoor by 9pc. Meanwhile, wheat prices increased by 9pc and vegetable ghee and cooking oil prices by 8pc, rice, besan and fresh milk prices increased by 5-6pc.

Among non-food items, gas prices surged by 86pc, motor fuel 25pc and motor vehicles and their accessories by over 12pc, construction materials 11pc, household servant, transport services and cosmetics by 9pc. House rent rates increased by 7pc. On the flip side, chicken, tomatoes and eggs saw their prices declining in the range of 6-12pc .

On the other hand, WPI increased by 12.7pc year-on-year in June, from 14pc in May and 7.6pc in same month last year.

Similarly, Sensitive Price Indicator on YoY basis increased by 10.6pc in June versus 10.8pc a month earlier and 1.9pc in same period last year.

Inflation for the month of June clocked in at 8.9 per cent year-on-year, led largely by rising price levels of non-food non-energy core inflation at 7.2pc.

Meanwhile, the average monthly Consumer Price Index for 2018-19 was posted at 7.34pc, almost double from the FY18 level of 3.92pc.

Published in Dawn, July 3rd , 2019