Consumer Price Index stands at 13.77 percent in July


KARACHI: Pakistan’s consumer price index (CPI), a key indicator of inflation, rose 13.77 percent in July from a year ago, the Federal Bureau of Statistics said on August 02, 2011.

CPI inflation has clocked in at 13.77 percent year-on-year (YoY) in July 11 (higher than street estimates) versus 13.13 percent (year-on-year) YoY in June’11.

The CPI was up 1.80 percent from June this year. Using 2000/01 as the base year, the CPI index stood at 259.15 in July against 225.03 in June.

The 1.8 percent month-on-month (MoM) increase in CPI can be explained by higher food inflation (up 3.2 percent MoM in July’11) where, analysts attribute this to the pre-Ramadan surge in prices.

In this regard, with a combined weight of –55 percent in the CPI basket, food, energy and transport inflation rose by 17.6 percent YoY, 7.4 percent YoY and 13.6 percent YoY, respectively, in Jul 11.

Factoring out food and energy inflation, core inflation registered at 10.7 percent YoY in July 11 versus 10.4 percent YoY in June 11.

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