CPI-based monthly inflation reduced in April, prices soared with onset of Ramadan: report
Business community demands SBP lower interest rates to boost businesses amid virus crisis
May 02, 2020
ISLAMABAD: The Consumer Price Index (CPI)-based monthly inflation reduced in April but has gone out of control in Ramadan, The News reported on Saturday.
Pulses, fruits, meat, medicines, sugar have got more expensive while the prices of vegetables, milk, tomatoes, wheat, petroleum products and electricity have been lowered in the holy month.
Different business community leaders on Friday demanded that the State Bank of Pakistan (SBP) further lower interest rate to give a boost to the business in the country.
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CPI decelerated to 8.5%
The CPI decelerated to 8.5% on year-on-year (YoY) basis in April 2020, from 10.2% during February, Pakistan Bureau of Statistics (PBS) reported on Friday.
On month-on-month basis, it decreased by 0.8% in April as compared to an increase of 0.04% in the previous month and an increase of 0.7% in April 2019.
The Urban CPI inflation increased by 7.7% on year-on-year basis in April 2020 as compared to an increase of 9.3% in the previous month and 8.4% in April 2019.
On month-on-month (MOM) basis, it decreased by 0.7% in April 2020 as compared to an increase of 0.1% in the previous month and an increase of 0.8% in April 2019.
On the other hand, the Rural CPI inflation increased by 9.8% on year-on-year basis in April 2020 as compared to an increase of 11.7% in the previous month and 8.1% in April 2019.
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On month-on-month basis, it decreased by 1.1% in April 2020 as compared to a decrease of 0.1% in the previous month and an increase of 0.6% in April 2019.
SPI increased by 9%, WPI by 5.1%
Meanwhile, the Sensitive Price Indicator (SPI) based inflation on YoY increased by 9.0% in April 2020 as compared to an increase of 11.8 % a month earlier and an increase of 10.0% in April 2019.
On MoM basis, it decreased by 2.0% in April 2020 as compared to a decrease of 0.3% a month earlier and an increase of 0.5% in April 2019.
The Wholesale Price Index (WPI) based inflation on YoY basis increased by 5.1% in April 2020 as compared to an increase of 9.2% a month earlier and an increase of 17.1% in April 2019.
The WPI inflation on MoM basis decreased by 2.1% in April 2020 as compared to a decrease of 0.9% a month earlier and an increase of 1.8% in corresponding month of last year.
The core inflation measured by non-food non-energy Urban CPI (Core NFNE) increased by 6.4% on YoY basis in April 2020 as compared to an increase of 7.4% in the previous month and 7.0 percent in April 2019.
Originally published in The News
