ISLAMAABD - Inflation rate has once again come down to the single digit figure of 9.2 per cent in the month of December over the same month of the previous year mainly due to the decline in food prices.
According to the latest figures of Pakistan Bureau of Statistics (PBS), the inflation based on consumer prices index (CPI) was recorded at 9.2 per cent during the month of December as compared to the same month last year. The inflation rate has entered into double-digit figure in November. The government has projected the inflation target of 8 per cent for the 2013-14 fiscal year compared to 7.38 percent in the year 2012-13. However, the govt has revised upward the inflation target to 11-12pc for the whole year. The CPI-based inflation has enhanced by 8.89 percent during first six months (July-December) of the ongoing financial year 2013-14. SPI-based inflation surged by 10.74pc and WPI-based inflation increased by 8.76 percent. Meanwhile, the CPI based inflation reduced by 1.3 percent in December 2013 as compared to November.
It is worth mentioning here that inflation rate is on higher side since PML-N govt has taken the charge from June 2013. However, the Finance Minister on Wednesday in Cabinet meeting blamed the previous governments responsible for high inflation. Talking about the soaring inflation, Ishaq Dar held previous two governments of Pakistan Peoples Party and interim govt responsible for it apart from higher international oil prices. The previous two governments were supposed to take decision like power tariff hike, clearance of circular debt, shortfall in taxes and imposition of new taxes, he added.
The PBS figures further revealed the break-up of CPI-based general inflation (9.2 per cent) showed that food and beverages prices went up by 8.9 percent, alcoholic beverages and tobacco prices increased by 15.66 percent, clothing and footwear prices soared by 11.95 percent, housing water, electricity and gas fuels 9.55 percent, healthcare charges went up by 6.44 percent, transportation charges increased 8.83 percent, communication charges 4.3 percent, recreation and culture charges went up by 9.88 percent, education charges 8.66 percent, restaurants and hotel charges by 12.70 percent and miscellaneous 4.54 percent in December 2013.
Price of chicken increased by 13.9 per cent in the month of December against November, price of potatoes, eggs by 7.22 percent, prices of pulse moong went up by 6.05 percent, price of wheat surged by 5.62pc, price of wheat products increased by 4.29 percent, price of pulse masoor surged by 3.66 percent, price of honey went up by 3.15 percent, price of condiments enhanced by 2.05 percent, price of wheat flour enhanced by 1.85 percent, price of pulse (mash) washed raised by 1.27 percent during the month of December.
Meanwhile, prices of following commodities decreased. Tomatoes 53.83 percent, potatoes 35.94 percent, fresh vegetables 30.59 percent, onions 18.07 percent, gur 9.95 percent, sugar 9.07 percent, fresh fruits 4.24 per cent, tea 2.17 percent, betal leaves & nuts 0.18 percent and beverages 0.01 percent.