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ISLAMABAD: Monthly inflation based on the consumer price index (CPI) fell in April, but has been out of control in Ramadan, News reported Saturday.
Legumes, fruits, meat, medicines and sugar have become more expensive, while the prices of vegetables, milk, tomatoes, wheat, oil products and electricity have been reduced in the holy month.
Different leaders of the business community demanded on Friday that the State Bank of Pakistan (SBP) further reduce the interest rate to boost business in the country.
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CPI slowed to 8.5%
The CPI slowed to 8.5% yoy (yoy) in April 2020, from 10.2% in February, the Pakistan Bureau of Statistics (PBS) reported on Friday.
Month-on-month, it decreased 0.8% in April compared to a 0.04% increase in the previous month and a 0.7% increase in April 2019.
Urban CPI inflation increased 7.7% year-on-year in April 2020 compared to a 9.3% increase in the previous month and 8.4% in April 2019.
On a month-to-month (MOM) basis, it decreased 0.7% in April 2020 compared to a 0.1% increase in the previous month and a 0.8% increase in April 2019.
On the other hand, rural CPI inflation increased 9.8% year-on-year in April 2020 compared to an increase of 11.7% in the previous month and 8.1% in April 2019.
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Month-over-month, it decreased 1.1% in April 2020 compared to a 0.1% decrease in the previous month and a 0.6% increase in April 2019.
SPI increased by 9%, WPI by 5.1%
Meanwhile, inflation based on the sensitive price indicator (SPI) in the previous year increased 9.0% in April 2020 compared to an 11.8% increase a month earlier and a 10.0% increase in April 2019.
Based on MoM, it decreased 2.0% in April 2020 compared to a 0.3% decrease a month earlier and a 0.5% increase in April 2019.
Inflation based on the Wholesale Price Index (MPI) on a year-over-year basis increased 5.1% in April 2020 compared to a 9.2% increase a month earlier and a 17.1% increase in April 2019.
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WPI based on MoM inflation decreased 2.1% in April 2020 compared to a 0.9% decrease a month earlier and a 1.8% increase in the corresponding month last year.
Core inflation measured by the non-energy urban non-food CPI (Core NFNE) increased by 6.4% year-on-year in April 2020 compared to a 7.4% increase in the previous month and 7.0% in April 2019.
Originally published in
News
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