Pakistans Yearly inflation at 5.84 Percent in August

According to figures released by the PBS, the Yearly Inflation rate in August 2018 was 5.84 percent compared to 5.83 percent in July 2018 and 3.41 percent in August 2017.

The July-August average inflation is 5.84 percent compared to 3.16 percent from the corresponding period last year.

Market Expectation of Inflation for August was between 6.03 % and 5.28% with the average estimate of 5.70%

On a monthly basis, CPI increased by 0.21 percent against a market expectation of 0.15 percent.

In the meantime, the Wholesale Price Index on monthly basis increased by 0.79 percent and Sensitive Price Indicator went up by 0.22 percent. “The 5.84 percent was highest increase on year-on-year basis during past 47 months,” Attique said adding that earlier, the highest inflation of 7.68 was recorded during September 2014.

According to the data, the core inflation measured by non-food non-energy CPI increased by 7.7 percent on year-on-year basis in August, which was recorded at 5.5 during August 2017 compared to August 2016.

The trimmed core inflation during the month of August 2018 over August 2017 has been observed as 5.9 percent while it was 4.2 percent in August 2017 compared to corresponding month of last year.

Meanwhile, the top few food items that witnessed increase in prices on year-on-year basis included tomatoes (62.42 percent), bus fare (48.19 percent), diesel (45.92 percent), kerosene oil (38.54 percent), petrol (37.04 percent), air fare in economy class (27.05 percent), cylinder (26.50 percent), iron bar (25.72 percent), car Honda Civic (20.25 percent), Tailoring Shirt (15.48 percent), Car Sukuki 1000 CC( 15.34 percent), CNG (13.96 percent), car Sukuki 800 CC( 13.48 percent) and auto rickshaw fare (13.18 percent).

The top few food items that witnessed decrease in prices on year-on-year basis included garlic (32.84 percent), mash pulse(24.24 percent), potatoes (18.11 percent), chicken (14.96 percent), masoor pulse (11.04 percent), moong pulse (8.93 percent), gram whole yellow (8.25 percent), masoor pulse whole (7.05 percent), sugar (6.91percent), gram pulse (6.71percent), gram whole black (5.09 percent) and besan (4.93 percent).