Inflation rate up 25pc in 2 years
31 May, 2012
LAHORE: The rate of inflation for 44 commodities including wheat, rice, pulses, meat, kitchen fuel and poultry products stood at 9 per cent in April 2012. This is a comparatively smaller increase than the 15 per cent inflation rate in the same month last year.
LAHORE: The rate of inflation for 44 commodities including wheat, rice, pulses, meat, kitchen fuel and poultry products stood at 9 per cent in April 2012. This is a comparatively smaller increase than the 15 per cent inflation rate in the same month last year. However, the overall rate of inflation over the last two years (April 2010-April 2012) went up by 25 per cent.
The prices of commodities, whose quality and quantity are specified on standardized forms, are collected from outlets in 200 constituencies of 126 districts and tribal agencies across Pakistan on the 10th of every month.
This analysis is based on the prices of 44 commodities in locations common in April 2010, 2011 and 2012.
The observed commodities were categorized as pulses, fruits, dry fruit, poultry products, dairy items, meat, sweeteners, rice varieties, wheat, vegetables, kitchen fuels, cooked items, spices and condiments, medicines and medical services.
In 2012, tomatoes registered the highest inflation with their price increasing by 85 per cent over a year. Black gram and bananas followed with a hike of 40 per cent and 39 per cent, respectively. However, cost of blood sugar test and price of wheat grain, saw no change. The biggest decrease was in the price of garlic that fell 45 per cent. Sugar and gur followed with a drop of 16 per cent each.
Wheat grain had an inflation rate of 4 per cent between 2010 and 2011. However, its average price remained Rs29 per kg from 2011 to 2012.
The observed rice varieties experienced an inflation rate of 9 per cent in 2012. All the monitored poultry products registered an increase in prices over the year. As compared to 2011, the inflation rate of eggs was 7 per cent, chicken meat (24 per cent) and chicken live (17 per cent). Compared to last year, the inflation rate of pulses was 14 per cent.This report, which is prepared by Free and Fair Election Network (FAFEN), is based on prices collected from 81 constituencies in 58 districts across Pakistan. Of these, 33 constituencies were in 20 districts in Punjab, 22 in 16 Khyber Pakhtunkhwa (KP) districts, 19 in 15 Sindh districts and seven constituencies in as many districts in Balochistan
The reports said that since April 2010 its monitors have been observing the prices of 52 commodities on a monthly basis.
It said that inflation reduces people's purchasing power and affects the standard of living. Enhancing and maintaining standards of living is one of the key elements of good governance.