Pakistan inflation rate remains in single digits, says Asad Umar
- The reduction in the rate of inflation has been sustained now for the past several weeks with SPI consistently in single digits, he added.
Sensitive Price Index (SPI) recorded another, said Federal Minister for Planning and Development Asad Umar on Friday.
The minister said that sugar prices reduced sharply by 7.5pc this week after a decline of nearly 5pc last week. The reduction in the rate of inflation has been sustained now for the past several weeks with SPI consistently in single digits, he added.
Meanwhile, the Consumer Price Index (CPI) based monthly inflation decelerated to 8.3 percent on year-on-year (YoY) basis in November 2020, from 8.9 percent during October, Pakistan Bureau of Statistics (PBS) reported. On month-on-month (MoM) basis, it, increased 0.8pc in November as compared to an increase of 1.7 percent in October 2020 and an increase of 1.3 percent in November 2019.
According to PBS data, the Urban CPI inflation increased by 7.0pc on year-on-year basis in November 2020 as compared to an increase of 7.3pc in the previous month and 12.1pc in November 2019. On month-on-month basis, it increased by 0.6pc in November 2020 as compared to an increase of 1.3pc in the previous month and an increase of 1.0pc in November 2019.
The CPI inflation Rural, increased by 10.5pc on year-on-year basis in November 2020 as compared to an increase of 11.3pc in the previous month and 13.6pc in November 2019. On month-on-month basis, it increased by 1.1pc in November 2020 as compared to an increase of 2.4pc in the previous month and an increase of 1.9pc in November 2019.
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