ISLAMABAD, March 13: Inflation climbed to 8.42 per cent during eight months (July-February) of the current fiscal year, mainly because of sharp increases in prices of oil and food items.

Figures released by the Federal Bureau of Statistics (FBS) here on Monday show that the inflation increased by 0.33 per cent during February over January figures, indicating that the annual inflation would touch double-digit figure.

According to the figures, the inflation ratio remained in the range of 8 to 9 per cent during the eight months of the current fiscal year.

The net inflation, however, remained within the range predicted by the government despite prices of food items and oil products recording a tremendous increase during the period.

The highest inflation rate was recorded in July 2005 – 8.9 per cent – which then declined to 8.53 per cent in September.

In October 2005, it was 8.27 per cent, but rose to 8.51 per cent in December 2005 and 8.76 per cent in January 2006.

The disturbing aspect of the official figures was that the current year’s inflation was fuelled by disproportionate increases in prices for housing, essential food items and oil which directly affected poor people.

In February 2006, the CPI increased by 0.33 per cent over Jan 2006 and by 8.05 per cent over the corresponding period last year.

A groupwise analysis shows that food and beverage items remained on top with the group recording a persistent rise in Feb 2006 and recorded a growth of 8.05 per cent over the same period last year; house rent rose by 9.36 per cent; household, furniture and equipment 4.38 per cent, education 6.71 per cent; fuel and lighting 10.06 per cent over figures for the same period last year.

The sugar price rose by 26.09 per cent in February over the previous month, gram whole 15.47 per cent, potatoes 15.34 per cent, pulse moong 9.58 per cent, gur 8.12 per cent, pulse gram 7.68 per cent, besan 4.94 per cent, sweetmeat and nimco 3.62 per cent, bakery and confectionery 2.03 per cent.