Sunday, December 18, 2011
Inflation Monitor: Larkana the most expensive city in Pakistan
KARACHI: Larkana has become the most expensive city of the country as highest inflation was observed there during November 2011, the State Bank of Pakistan said in its inflation monitor.
According to the SBP, the Consumer Price Index (CPI) inflation on year-on-year basis in federal and provincial capitals of Pakistan was lower than overall inflation observed during November 2011. However, among 40 cities of the country, Larkana was observed with highest inflation during the fifth month of current fiscal year 2011-12.
Larkana city had observed 15.3 percent inflation, comprising 13.8 percent food and 16.4 percent non-food inflation, during the period under review.
Bahawalnagar was observed with second highest inflation of 13.6 percent with food 12.2 percent and non-food 14.5 percent. Gwadar was on third number with 12.7 percent CPI inflation during November 2011.
Among federal and provincial capitals, Karachi witnessed highest inflation. The inflation in Islamabad and Karachi was 8.8 and 8.9 percent respectively during November 2011. In Karachi, none-food inflation was higher than food inflation and a non-food inflation stood at 9 percent, while food inflation was 8.8 percent. Inflation registered in other provincial capitals, including Lahore, Peshawar and Quetta was about 8.2 percent.
Gujranwala, Dadu, Loralai, and Mithi observed 12.1 percent, 11.7 percent, 11.6 percent and 11.5 percent CPI inflation during last month with fourth, fifth, sixth and seventh positions.
According to SBP's inflation monitor headline CPI inflation on revised base (2007-08 = 100) was recorded at 10.2 percent on year-on-year basis in November 2011 as compared to 11.0 percent in the previous month and 15.0 percent in the corresponding month of last year.
However, CPI inflation on month-on-month basis decreased by 0.3 percent in November 2011 as compared to 1.4 percent in the previous month and 1.0 percent in the corresponding month of last year. Seasonally adjusted month on month CPI inflation comes to 0.8 percent in November 2011 as compared to 1.0 percent in previous month.
Core inflation (trimmed) on year-on-year basis decreased to 11.5 percent in November 2011 as compared to 11.7 percent in the previous month and 12.8 percent in the corresponding month of last year.
On month-on-month basis, the core inflation (trimmed) was 0.5 percent in November 2011 as compared to 1.0 percent in October 2011 and 0.8 percent in November 2010.
Non-food, non-energy inflation, measured by CPI Core (NFNE) on year-on year basis, was recorded at 10.4 percent in November 2011 as compared to 10.5 percent a month earlier and 9.4 percent in November 2010.
Core NFNE inflation on month-on-month basis decreased to 0.6 percent in November 2011 as compared to 1.4 percent a month earlier. Core NFNE was 0.6 percent in November 2010.