ISLAMABAD: Inflation continued its upward trend and the Consumer Price Index (CPI) rose by 8.7 percent on year-on-year basis in February 2021 as compared to an increase of 5.7 percent in the previous month and 12.4 percent in February 2020.
According to statistics issued by the Pakistan Bureau of Statistics on month-on-month basis, CPI increased by 1.8 percent in February 2021 as compared to a decrease of 0.2 percent the previous month and a decrease of 1.0 percent in February 2020.
CPI inflation in urban areas increased by 8.6 percent on year-on-year basis in February 2021 as compared to an increase of 5.0 percent in the previous month and 11.2 percent in February 2020. On month-on-month basis, it decreased by 2.3 percent in February 2021 as compared to a decrease of 0.2 percent in the previous month and a decrease of 1.1 percent in February 2020.
Whereas CPI inflation in rural areas, increased by 8.8 percent on year-on-year basis in February 2021 as compared to an increase of 6.6 percent in the previous month and 14.2 percent in February 2020. On month-on-month basis, it increased by 1.1 percent in February 2021 as compared to a decrease of 0.3 percent in the previous month and a decrease of 1.0 percent in February 2020.
The Statistics Bureau says the Sensitive Price Index inflation on year-on-year increased by 11.9 percent in February 2021 as compared to an increase of 7.7 percent a month earlier and an increase of 14.5 percent in February 2020. On month-on-month basis, it increased by 3.1 percent in February 2021 as compared to a decrease of 0.8 percent a month earlier and a decrease of 0.8 percent in February 2020.
The Whole Price Index inflation on year-on-year basis increased by 9.5 percent in February 2021 as compared to an increase of 6.4 percent a month earlier and an increase of 12.7 percent in February 2020. WPI inflation on month-on-month basis increased by 2.2 percent in February 2021 as compared to an increase of 2.5 percent a month earlier and a decrease of 0.7 percent in corresponding month of 2020.
Experts say that because of continuous increase in petroleum prices and electricity tariff the inflation rate may be over 9 percent or even can touch double digit at the end of this fiscal year. However, the government projected inflation rate of 6.5 percent for financial year 2021.
