ISLAMABAD, Dec 12: Inflation as measured by Consumer Price Index (CPI) spiralled further by 3.59 per cent during the period July-November, 2002, as compared to the same period of previous year, according to the monthly review of price indices released by the Federal Bureau of Statistics here on Thursday.
Reflecting a recessionary situation characterized by a vertical decline in purchasing power of the people, the CPI had increased by 3.38 per cent in July-November, 2001 over the comparable period of preceding year.
The Sensitive Price Indicator (SPI), which monitors prices of only 51 items, surged by 4.55 per cent. This is almost double the increase (2.41pc) in SPI recorded for the same period of 2001.
Wholesale Price Index (WPI) soared by 4.22 per cent during the 5-month period under review. During the corresponding period of 2001, WPI had risen by 3.96 per cent.
During the month of November, all the three price indices spurted substantially as compared to the same month of previous year. Thus, during the past 11 months, the CPI went up by 3.11, SPI by 3.12 and WPI by 5.75 per cent.
According to FBS data, however, these indices registered a negative trend in November 2002 as compared to previous month (October 2002) as follows: CPI by 0.08, SPI by 0.56 and WPI by 0.94 per cent.
The group “Fuel and Lighting” comprising electricity and petroleum fuels recorded an increase of 9.92 per cent in November 2002 over the corresponding period of previous year. When compared to previous month, energy prices surged by 0.39 per cent.
But the groups which underwent marked price spiral were “Recreation & entertainment” (1.70%) and “Cleaning, laundry & personal appearance” (1.63%), which further affected the lower middle class. As compared to the same period of previous year, CPI for these groups rose 2.20% and 5.30%, respectively.
The CPI groups which registered decrease in prices were Food & Beverages (0.08%), Transport & communication (3.34%) and medicare (0.59%).
CPI for other groups increased over October 2002 as follows: Apparel & textile: 0.37%; house rent: 0.06%; household, furniture & equipment etc.: 0.39%; and education: 0.21%.
The main commodities which showed a decrease in their prices during November 2002 over October, 2002 are as under:
FOOD & BEVERAGES: Tomatoes (39.34%), onions (24.68%), gur (2.94%), pulse mash (2.67%), pulse moong (2.65%), sugar (2.26%), gram whole (1.66%) and pulse masoor (1.20%).
TRANSPORT & COMMUNICATIONS: Petrol (14.03%) and Diesel (9.01%).
The main commodities which registered an increase in their prices during November 2002 over October 2002 are as under:
FOOD & BEVERAGES: Dry fruits (5.57%), chicken farm (5.13%), vegetables (4.04%), eggs (3.98%), fresh fruits (3.66%), potatoes (2.74%), cereals (2.30%), fish (1.94%), vegetable ghee (1.56%), bakery & confectionery (1.38%), meat (1.34%) and tea (1.08%).
HOUSEHOLD, FURNITURE & EQUIPMENT ETC: Sewing machine, clock and needle (1.53%), marriage hall charges (1.42%), plastic products (1.36%), furnishing (1.18%) and refrigerator & air conditioner (1.03%).
CLEANING, LAUNDRY & PERSONAL APPEARANCE: Cosmetics (5.13%), laundry charges (1.92%) and toothpaste (1.11%).
Under WPI, various raw materials registered increase in prices. These included: Mustard & rapeseed (4.23%) and cotton (1.31%). Besides, prices of manufactures including nylon yarn, soap and fertilizer went up 2.64%, 1.81% and 1.39%, respectively.
The decrease in WPI over October 2002 was explained partly by decline in prices of raw materials including cottonseed (7.48%) and hides (3.61%).