ISLAMABAD: A meeting of the National Price Monitoring Committee held Friday here under the Chairmanship of Federal Minister for Finance Senator Mohammad Ishaq Dar.
The meeting was informed that the headline inflation measured by CPI increased by 3.7pc in December 2016 compared to 3.8 percent of previous month and 3.2pc of December last year. On average during Jul-Dec FY 2017 it is recorded at 3.88pc as compared to 2.08pc in corresponding period last year.
On monthly basis the CPI and food inflation remained lowest by -0.7pc and -1.9pc since February 2015. The CPI is tamed down and in control. The other inflationary indicators have also been contained.
The meeting noted continuous decline of SPI since last week of November 2016. It recorded continuous six weekly decline which has brought food inflation to 3.0 percent in December 2016 compared to 3.3 percent of previous month while non food inflation remained at same level of previous month at 4.2 percent, whereas core inflation increased by 5.2 percent compared to 5.3 percent of previous months and SPI and WPI in December 2016 recorded at 0.5 percent and 3.1 percent respectively, compared to 0.6 percent and 2.6 percent of previous month.
The Sensitive Price Indicator (SPI) for the week ended on 5th January 2017 decreased by 0.12pc. Out of 53 items, Nine (09) items which recorded decrease in their prices are tomatoes 10.20pc, Potatoes 5.02pc, Chicken 4.63pc, Mash Pulse 1.29pc, Onions 0.91pc, Garlic 0.87pc, Moong Pulse 0.57pc, Masoor Pulse 0.06pc and Red Chilly Powdered 0.05pc.
The decrease in prices of 09 items brought an impact of 0.26 percent in SPI decline. Sixteen (16) items recorded increase in prices including Sugar 1.64pc, Eggs 1.55pc, Bananas 1.51pc, LPG 1.22pc, Rice Irri-6 0.61pc, Rice Basmati 0.47pc, Mutton 0.38pc, Wheat 0.17pc, Vegetable Ghee tin 0.13pc, Gram Pulse 0.10pc and Wheat Flour 0.08pc. The prices of twenty eight (28) items remained stable which shows that there is overall price stability in the country.
The meeting was attended by the representatives from the Provinces of Punjab, Sindh, Khyber Pakhthunkhwa, Islamabad Capital Territory, Ministries of Industries, Law and Justice, Commerce, National Food Security and Research, Cabinet, Planning Development and Reforms, Inter Provincial Coordination, Statistics Division, Pakistan Bureau of Statistics, Utility Stores Corporation and Federal Board of Revenue.
