Inflation witnesses decline across Pakistan during Feb 2020, shows PBS data

ISLAMABAD: Pakistan Bureau of Statistics (PBS) on Monday released data of the sensitive price index showing a decline of over one percent in inflation across the country during the last week of February 2020 with 11 household items witnessing lowering of prices, ARY NEWS reported.

The sensitive price index for the week ended on 27 February issued by PBS covered 17 urban centres and 51 essential items  for all expenditure groups to determine the inflation rates.

A report of the PBS was also presented to the Prime Minister Imran Khan.

The index showed that the inflation rate during the last week of February in 2019 remained at 14.60 for all income groups and witnessed a 1.16 percent decline during the same period of the ongoing year.

The basic food items that witnessed a decline in prices included potatoes showing 83 percent decrease in prices, tomatoes 60 percent, eggs 26 percent, vegetables 11 percent and flour five percent.

“The liquefied petroleum gas (LPG) and electricity prices showed a 13 percent decline in last week mainly owing to prime minister’s decision to pass on the benefit of low fuel prices in the international market to masses,” it said as gas charges witnessed a surge of upto 55 percent.

Onion witnessed the most surge in prices with 145 percent rise followed by pulse Moong with 89 percent, vegetable ghee 33 percent, bananas 30 percent, beef and milk upto nine percent.

“The fruits and pulses also witnessed an increase in four and two percent respectively,” the report said.

Read More: Govt to bring comprehensive inflation control mechanism: SAPM Awan  

On February 20, State Bank of Pakistan (SBP) Governor Reza Baqir said that the country would witness a decline in inflation from the upcoming months.

“With a decline in inflation, its affects on the market will also be witnessed in the days to come,” he said while addressing the CEO Summit in the city.

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