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ISLAMABAD: The Consumer Price Index (CPI) witnessed an increase of 13 percent on year-on-year basis in January 2022 as compared to an increase of 12.3 percent in the previous month and 5.7 percent in January 2021, says the Pakistan Bureau of Statistics (PBS). The CPI for January 2022 is the highest inflation in 24 months as it was registered 14.6 percent in January 2020.

The CPI inflation is recorded at 10.26 percent during the first seven months (July-January) of the current fiscal year as against 8.19 percent in the same period of the last year.

According to the PBS data, the prices of food and non-food items including masoor, gram whole, fruits, pulse gram, maash, wheat, moong, meat, rice, cooking oil, vegetable ghee, vegetables, motor fuels, woolen readymade garments, solid fuel, hosiery, motor fuel, cleaning and laundering, and liquefied hydrocarbons increased.

On month-on-month basis, the CPI increased by 0.4 percent in January 2022 as compared to decrease of -0.02 percent in the previous month and a decrease of -0.2 percent in January 202.

The CPI inflation Urban, increased by 13.0 percent on year-on-year basis in January 2022 as compared to an increase of 12.7 percent in the previous month and 5.0percent in January 2021.

On month-on-month basis, it increased by 0.1 percent in January 2022 as compared to increase of 0.3 percent in the previous month and a decrease of -0.2 percent in January 2021.

‘Flawed CPI?’

The CPI inflation Rural, increased by 12.9 percent on year-on-year basis in January 2022 as compared to an increase of 11.6 percent in the previous month and 6.6 percent in January 2021. On month-on-month basis, it increased by 0.9 percent in January 2022 as compared to decrease of -0.5 percent in the previous month and a decrease of -0.3 percent in January 2021.

The sensitive price index (SPI) inflation on YoY increased by 20.9 percent in January 2022 as compared to an increase of 20.9 percent a month earlier and an increase of 7.7 percent in January 2021. On MoM basis, it decreased by -0.8 percent in January 2022 as compared to decrease of -0.4 percent a month earlier and a decrease of -0.8 percent in January 2021.

The Wholesale Price Index (WPI) inflation on YoY basis increased by 24 percent in January 2022 as compared to an increase of 26.2 percent a month earlier and an increase of 6.4 percent in January 2021.

The WPI inflation on MoM basis increased by 0.6 percent in January 2022 as compared to a decrease of -0.2 percent a month earlier and anincrease of 2.5 percent in corresponding month i.e. January 2021.

Measured by non-food non-energy Urban increased by 8.2 percent on YoY basis in January 2022 as compared to an increase of 8.3 percent in the previous month and 5.4 percent in January 2021. On MoM basis, it increased by 0.8percent in January 2022 as compared to increase of 1.1 percent in previous month, and an increase of 0.9 percent in corresponding month of last year i.e. January 2021.

Measured by non-food non-energy Rural increased by 9.0 percent on YoY basis in January 2022 as compared to an increase of 8.9 percent in the previous month and 7.8 percent in January 2021. On MoM basis, it increased by 1.2 percent in January, 2022 as compared to an increase of 1.1 percent in previous month, and an increase of 1.1 percent in corresponding month of last year i.e. January 2021.

Measured by 20 percent weighted trimmed means Urban increased by 10.6 percent on YoY basis in January, 2022 as compared to 10.8 percent in the previous month and 5.7 percent in January, 2021. On MoM basis, it increased by 0.5 percent in January 2022 as compared to an increase of 1.1 percent in the previous month and an increase of 1.0 percent in corresponding month of last year i.e. January 2021.

Measured by 20 percent weighted trimmed mean Rural increased by 10.9 percent on YoY basis in January, 2022 as compared to 10.3 percent in the previous month and by 8.1 percent in January 2021. On MoM basis, it increased by 1.1 percent in January 2022 as compared to an increase of 1.0 percent in the previous month and an increase of 1.2 percent in corresponding month of last year i.e. January 2021.

Top few commodities which varied from previous month and contributed to Urban CPI among food which registered increase are pulse masoor (6.13 percent), gram whole (4.79 percent), fruits (4.11 percent), besan (3.82 percent), pulse gram (3.44 percent), maash (3.37 percent), wheat (2.68 percent), moong (1.88 percent), meat (1.78 percent), and rice (1.28 percent), and decreased among tomatoes (42.88 percent), potatoes (13.32 percent), condiments and spices (7.50 percent), chicken (2.24 percent), vegetables (1.65 percent), wheat flour (1.28 percent), and eggs (1.13 percent).

Among non-food items, which increased are woolen readymade garments (6.67 percent), solid fuel (5.16 percent), hosiery (1.93 percent), motor fuel (1.75 percent), cleaning and laundering (1.59 percent), washing soap/detergents/match box (1.46 percent), and liquefied hydrocarbons (1.29 percent), and decreased among electricity charges (2.52 percent) and construction input items (0.08 percent).

YoY top few commodities which varied from corresponding month of previous year i.e. January 2021 are among food items which registered increase are cooking oil (54.33 percent), vegetable ghee (47.4 percent), mustard oil (46.68 percent), masoor (41.3 percent), fruits (28.35 percent), gram whole (24.7 percent), meat (22.38 percent), chicken (17.08 percent), pulse gram (15.67 percent), beans(15.37 percent), pulse mash (12.46 percent) and vegetables (11.58 percent) and decreased among tomatoes (41.95 percent), moong (24.69 percent), onions (4.39 percent) and condiments and spices(2.58 percent).

Among non-food items, which increased are electricity charges (56.20 percent), liquefied hydrocarbons (53.35 percent), motor fuel (36.22 percent), footwear (25.47 percent), cleaning and laundering (22.03 percent), washing soap/detergents/match box (17.95 percent), motor vehicle accessories (14.04 percent), woolen readymade garments (13.03 percent) and plastic products (11.72 percent).

The top few commodities, which varied from the previous month and contributed to Rural CPI and which increased among food items are masoor (6.97 percent), fruits (6.66 percent), pulse gram (4.55 percent), gram whole (4.43 percent), maash (4.09 percent), vegetables (3.64 percent), eggs (2.69 percent), pulse moong (2.66 percent), besan (2.25 percent), meat (2.24 percent), sugar (1.93 percent), cooking oil (1.71 percent), mustard oil (1.54 percent) and rice (0.88 percent) and decreased among tomatoes (47.89 percent), potatoes (12.74 percent), onions (2.78 percent) and chicken (0.47 percent).

Among non-food items which increased are solid fuel (6.65 percent), cleaning and laundering (2.90 percent), woolen readymade garments (2.88 percent),footwear (2.72 percent), household textiles (2.66 percent), plastic products (2.60 percent), stationery (2.10 percent), motor fuels(2.03 percent), washing soaps/detergents/match box (1.77 percent) and hosiery (0.79 percent) and decreased among electricity charges (2.52 percent) and liquefied hydrocarbons (0.19 percent).

YoY top few commodities which varied from corresponding month of previous year i.e. January 2021 and registered increase among food items are cooking oil (50.33 percent), mustard oil (49.73 percent), vegetable ghee (49.27 percent), masoor (36.22 percent), fruits (29.35 percent), gram whole (29.34 percent), meat (21.96percent), vegetables (18.19 percent), chicken(17.17 percent), beans (13.97 percent), besan (12.54 percent), pulse gram (11.63 percent) and milk (10.22 percent) and decreased among tomatoes (46.2 percent), pulse moong (24.59 percent), condiments and spices (14.78 percent), and onions(7.75 percent).

Among non-food items, which increased are electricity charges (56.20 percent), liquefied hydrocarbons (42.05 percent), motor fuels (34.86 percent), washing soaps/detergents/match box (18.20 percent), woolen readymade garments (15.63 percent), cleaning and laundering (15.44 percent), hosiery (14.62 percent), solid fuel (14.02 percent), woolen cloth (13.74 percent), motor vehicles accessories (13.34 percent), and furniture and furnishing (12.54 percent).

Top few commodities which varied from previous month and contributed to the WPI inflation and increased included jowar (14.19 percent), fibre crops (11.17 percent), cereal flour (6.59 percent), bajra (6.04 percent), chemicals(3.71 percent), wheat (3.32 percent), milk (3.29 percent), pulses (2.76 percent), quilts (2.39 percent), eggs (2.27 percent), motor spirit(2.18 percent), diesel (2.14 percent), fertilisers (1.87 percent), kerosene oil (1.73 percent), maize (1.73 percent), fruits (1.43 percent), sugar (1.30 percent) and timber (1.08 percent) and decreased among spices (34.29 percent), furnace oil (11.05 percent), potatoes (10.88 percent), poultry (7.28 percent), electrical energy (1.84 percent) and vegetables (1.25 percent).

YoY top few commodities which varied from previous year and registered increase are fibre crops (79.77 percent), kerosene oil (53.01 percent), oil seeds (48.34 percent), vegetable ghee (46.35 percent), cotton yarn (45.36 percent), chemicals (44.47 percent), fertilizers (44.35 percent), furnace oil (44.07 percent), steel bar and sheets (43.63 percent), vegetable oils (42.57 percent), diesel (40.59 percent), motor spirit (36.13 percent), electrical energy (32.84 percent), vegetables (25.62 percent), bajra (25.42 percent), pulses (24.23 percent), cement (20.54 percent), mobil oil (19.58 percent) and meat (19.46 percent) and decreased among spices (28.94 percent), stimulant and spice crops (14.27 percent), and maize (5.67 percent).

Copyright Business Recorder, 2022

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