13 C
Lahore

February CPI Inflation slows down to 12.2%

Must read

The inflation rate slowed down to 12.2% in February amid a double-digit increase in prices of essential kitchen items (especially a triple-digit increase in the price of tomatoes), fuel and electricity and chances of a spike in imported inflation amid the ongoing Russia-Ukraine crisis.

The Pakistan Bureau of Statistics (PBS) reported on Tuesday that the Consumer Price Index (CPI) rose to 12.2% in February over the same month a year ago. It was the lowest inflation rate in the past three months despite a massive increase in prices of items that affect every household.

The national data collecting agency reported a 191.72% increase in prices of tomatoes, 11.61% of chicken and 10.69% surge in prices of the vegetables, hitting every household adversely. Similarly, the PBS reported a 4.24% increase in fuel prices and a 7.76% decrease in electricity charges in February over the same month of the last year.

Majority of the prices increased due to an increase in commodity prices in the international market and a decline in the value of the rupee.

The surge also comes amid a sharp rise in global inflation and soaring oil prices in the international market, which touched $100 per barrel, and its direct and indirect impact is passed on to the consumers.

More articles

Latest article