Saturday, February 27, 2021

CPI expected at 7.98% YoY in Feb 19

Featured

Joe Biden: “We will never acknowledge Russia’s annexation of Crimea”

US President Joe Biden said: "We will never recognize Russia's annexation of Crimea, and we will stand by Ukraine...

Canada Approves AstraZeneca Vaccine

The Canadian Ministry of Health approved the "AstraZeneca" vaccine for the Coronavirus, which is the third vaccine to be...

Canada: E-Katchehries meant to accord Pak community due respect & recognition

The High Commission for Pakistan in Ottawa along with Consul Generals of Pakistan in Montreal, Toronto and Vancouver held...
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

Comparing January, it is expected that Feb’19 inflation to settle at 7.98% YoY compared to 3.80% in Feb’18 and 7.19% in Jan’19, respectively. The surge in CPI is owed to uptick in prices of food related products (Tomatoes and Chicken) which is expected to increase overall CPI given a cumulative weight of 1.79% in total CPI basket, and low base effect in SPLY.

- Advertisement -

However, a meagre decline in prices of petroleum products will remain unable to moderate rising CPI. This will take the 8MFY19 average inflation to 6.43%, which is considerably higher from 3.84% in same period last year.

On a yearly basis, increase in inflation is likely to be led by Transport (+13.6% YoY), Alcoholic Beverages & Tobacco (+12.6% YoY), Housing (+11.6% YoY), Education (+9.7% YoY) and Miscellaneous (+9.2% YoY).

 

Monthly Inflation to settle at 0.43%

 

On a monthly basis, CPI reading is expected to increase by 0.43% MoM attributable to surge in Food index by 1.11% MoM. Whereas we anticipate monthly inflation to contract by 0.16% in Feb’19 in contrast to previous seven months average monthly inflation of 0.59%.

- Advertisement -

As per three weeks Sensitive Price Index (SPI) data published by the Pakistan Bureau of Statistics (PBS), average prices of Tomatoes, Chicken, Gur, Fresh Fruits and Sugar are expected to register a jump of 118%, 8%, 2%, 2% and 1% MoM, respectively.

On the other hand, decline in prices of essential food items like Potatoes (-6% MoM), Eggs (-5% MoM) and Fresh Vegetables (-3% MoM) will keep the food index under control.

 

- Advertisement -
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
- Advertisement -

Latest News

Joe Biden: “We will never acknowledge Russia’s annexation of Crimea”

US President Joe Biden said: "We will never recognize Russia's annexation of Crimea, and we will stand by Ukraine...

Canada Approves AstraZeneca Vaccine

The Canadian Ministry of Health approved the "AstraZeneca" vaccine for the Coronavirus, which is the third vaccine to be given the green light for...

Canada: E-Katchehries meant to accord Pak community due respect & recognition

The High Commission for Pakistan in Ottawa along with Consul Generals of Pakistan in Montreal, Toronto and Vancouver held an E-Katchehry with the members...

Equality policy: Global policy makers laud SBP’s effort to advance women’s financial inclusion through Banking

In December 2020, the State Bank of Pakistan launched its consultation process with different national and international stakeholders on its Banking on Equality Policy. A...

Hungary – First country in the European Union to use Chinese Sinopharm vaccine

Hungary began using the Chinese company "Sinopharm" vaccine against the emerging coronavirus, becoming the first country in the European Union to take this step. Hungarian...

Related News