CPI Measures Inflation By 8.6 Percent During Current Year

The inflation measured by the Consumer Price Index (CPI) was recorded at 8.6 percent during July-April 2020-21 as against 11.2 percent during the same period last year

ISLAMABAD, (UrduPoint / Pakistan Point News - 10th Jun, 2021 ) :The inflation measured by the Consumer Price Index (CPI) was recorded at 8.6 percent during July-April 2020-21 as against 11.2 percent during the same period last year.

According to Economic Survey 2020-21 launched here on Thursday, the government measures for maintaining price stability, inflation in perishable food items was increased 0.1 percent against exorbitant increase of 34.7 percent during same period last year.

Non-Perishable food items are the main contributory factor in jacking up the food inflation in the Food and Non-alcoholic Beverages group, as it is recorded at 16 percent against the increase of 12.4 percent during the same period last year.

Among the nonperishable food items, the upward pressure came from the poultry group (chicken and eggs), followed by the staple group (wheat, wheat flour and edible oil).

The increase in the poultry group may be attributed to viral disease which caused supply side risks.

Wheat prices rose by more than 24 percent in April 2021 over April 2020 due to supply disruption.

However, there was decrease of 9 percent over March 2021 mainly due to the government efforts for smooth supply of wheat.

One of measures was timely release of wheat in the provinces by the procurement agencies and provision of the commodity via utility stores and fair price outlets which managed to ease price pressures.

Regarding increase in the prices of edible oil, Palm oil and soybean prices have been on a steep rising trajectory in international market since June 2020, amid sharp contractions in global inventory levels due to weather-related concerns in the major producing areas.

The Housing, Water, Electricity, Gas & other Fuel have recorded an increase of 5.7 percent during July-April FY2021 as against 7.1 percent during the same period last year.

It has a weight of 23.6 percent thus any untoward movement directly affects the vulnerable segments of the society.