Pakistan Inflation Rate Edges Down in July
Pakistan annual inflation rate decelerated for the third straight month to 7.9 percent in July from 8.2 percent in the previous month as prices of alcoholic beverages, tobacco and energy eased.
Year-on-year, prices decelerated for alcoholic beverages and tobacco (22.2 percent in July from 33.2 percent in June); housing, water, electricity, gas and fuels (8.94 percent from 9.62 percent); furnishing and household equipment maintenance (9.18 percent from 9.83 percent); communication (0.18 percent from 0.89 percent); recreation and culture (5.76 percent from 6.13 percent); education (16.49 percent from 16.73 percent); restaurants and hotels (11.86 percent from 13.35 percent).
In contrast, food prices increased to 6.20 percent from 6.13 percent in June and clothing and footwear cost rose by10.99 percent from 10.03 percent a month earlier.
Core inflation (excluding food and energy) decreased to 8.3 percent from 8.7 percent in the previous month.
On a monthly basis, consumer prices accelerated 1.7 percent in July, up from 0.6 percent in the previous month. In particular, food prices surged by 2.79 percent compared with 0.44 percent rise in June. The biggest increases in the food category were reported for cost of; tomatoes (60.22 percent), cigarettes (16.18 percent), pulse mash (3.61 percent), sugar (3.44 percent), potatoes (3.26 percent), spices (2.79 percent), beverages (2.55 percent), milk powder (2.36 percent), gur (2.03 percent), pulse moong (1.98 percent), eggs (1.64 percent), milk products (1.58 percent), condiments (1.56 percent), and milk fresh (1.43 percent).
8/4/2014 2:24:12 PM