Inflation reduced in April: Prices go beyond control in Ramazan

ISLAMABAD: The Consumer Price Index (CPI) based monthly inflation reduced in April but it has gone out of control in Ramazan.

Pulses, fruits, meat, medicines, sugar got dearer while the prices of vegetables, milk, tomatoes, wheat, petroleum products and electricity lowered.

Different business community leaders demanded State Bank of Pakistan (SBP) to further lower interest rate to give boost to the business in the country.

The CPI decelerated to 8.5 percent on year-on-year (YoY) basis in April 2020, from 10.2 percent during February, Pakistan Bureau of Statistics (PBS) reporter Friday.

On month-on-month basis, it decreased by 0.8 percent in April as compared to an increase of 0.04 percent in the previous month and an increase of 0.7 percent in April 2019.

The UrbanCPI inflation increased by 7.7 percent on year-on-year basis in April 2020 as compared to an increase of 9.3 percent in the previous month and 8.4 percent in April 2019.

On month-on-month (MOM) basis, it decreased by 0.7 percent in April 2020 as compared to an increase of 0.1 percent in the previous month and an increase of 0.8 percent in April 2019.

On the other hand, the Rural CPI inflation increased by 9.8 percent on year-on-year basis in April 2020 as compared to an increase of 11.7 percent in the previous month and 8.1 percent in April 2019.

On month-on-month basis, it decreased by 1.1 percent in April 2020 as compared to a decrease of 0.1 percent in the previous month and an increase of 0.6 percent in April 2019.

Meanwhile, the Sensitive Price Indicator (SPI) based inflation on YoY increased by 9.0 percent in April 2020 as compared to an increase of 11.8 percent a month earlier and an increase of 10.0 percent in April 2019.

On MoM basis, it decreased by 2.0 percent in April 2020 as compared to a decrease of 0.3 percent a month earlier and an increase of 0.5 percent in April 2019.

The Wholesale Price Index (WPI) based inflation on YoY basis increased by 5.1 percent in April 2020 as compared to an increase of 9.2 percent a month earlier and an increase of 17.1 percent in April 2019. The WPI inflation on MoM basis decreased by 2.1 percent in April 2020 as compared to a decrease of 0.9 percent a month earlier and an increase of 1.8 percent in corresponding month of last year i.e. April 2019.

The core inflation measured by non-food non-energy Urban CPI (Core NFNE) increased by 6.4 percent on YoY basis in April 2020 as compared to an increase of 7.4 percent in the previous month and 7.0 percent in April 2019. On MoM basis, it increased by 0.2 percent in April 2020 as compared to increase of 0.3 percent in previous month, and an increase of 1.1 percent in corresponding month of last year i.e. April 2019.

Core inflation measured by non-food non-energy Rural CPI (Core NFNE) increased by 8.5 percent on (YoY) basis in April 2020 as compared to an increase of 9.4 percent in the previous month and 6.8 percent in April 2019. On (MoM) basis, it increased by 0.3 percent in April 2020 as compared to an increase of 0.6 percent in previous month, and an increase of 1.2 percent in corresponding month of last year i.e. April 2019.

Core inflation, measured by 20 percent weighted trimmed mean Urban CPI (Core Trimmed) increased by 6.7 percent on (YoY) basis in April 2020 as compared to 8.7 percent in the previous month and by 7.4 percent in April 2019. On (MoM) basis, it decreased by 0.2 percent in April 2020 as compared to an increase of 0.3 percent in the previous month and an increase of 1.1 percent in corresponding month of last year i.e. April 2019.

The core inflation, measured by 20 percent weighted trimmed mean Rural CPI (Core Trimmed) increased by 9.3 percent on (YoY) basis in April 2020 as compared to 11.4 percent in the previous month and by 7.3 percent in April 2019. On (MoM) basis, it decreased by 0.6 percent in April 2020 as compared to an increase of 0.1 percent in the previous month and an increase of 0.8 percent in corresponding month of last year i.e. April 2019.