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Summary National Price Monitoring Committee expresses satisfaction over containing inflation.
Food and Non-Food inflation is recorded at 7.6 percent and 9.7 percent respectively.Similarly SPI and WPI also registered at 7.5 percent and 7.8 percent respectively.The first quarter of the current fiscal year CFY13 posted a single digit inflation at 9.1 percent as compared to 11.5 percent in the corresponding period of last year.All indicators of the inflation reported single digit during July-Sept. CFY13.The meeting reviewed the Consumer Price Index (CPI), Food, Non-Food, Core, Wholesale Price index (WPI) and Sensitive Price Index (SPI).It was noted that as a result of continuous efforts of the government the CPI reduced to 8.8 percent during September 2012 and government has succeeded in containing inflation to single digit, which shows government commitment in controlling the headline inflation.The SPI trend suggest that week ended on 27th September 2012 recorded a decrease of -0.37 percent due to decline in the prices of Onion, Potatoes, Tomatoes, Sugar and pulses etc. However, out of 53 items, prices of 09 items registered increase while prices of 16 items decreased and prices of 28 items remain unchanged as compared to last week ended on 20-09-2012, where prices of 20 items increased, prices of 09 items decreased and prices of 24 items remained unchanged.The Food and Non food items which registered nominal increase in their prices were Rice Basmati 0.43%, Red Chilies 0.31%, Beef 0.17%, Wheat 0.09% while Petrol and Eggs increased by 1.72% and 1.28%. However, with better weather condition the arrival has started resultantly easing out the prices of essential commodities.The other items which registered decrease in their prices are Garlic 1.75%, Sugar 1.31%, Kerosene Oil 1.24% , Chicken 1.05%, Vegetable ghee 1.04%, Gram Pulse 0.46%, Diesel 0.37%, LPG 0.37%, Masoor Pulse 0.15%, Mash Pulse 0.13% and Moong Pulse 0.08%. It was also observed that in comparison with the regional countries, Pakistan is the lowest in prices of Wheat, Wheat Flour, Rice, Sugar, Red Chillies, Chicken Farm and 2nd lowest in Moong Pulse, Masoor Pulse and Beef while prices of Mash Pulses, Onion, Tomato, Potato, Diesel, Tea, Edible Oil, DAP and Urea are higher in Pakistan.The committee reviewed the price trend of selected items among the Provinces. Some variations in the prices of Wheat Flour, Rice Basmati Broken, Pulses, Beef, Mutton, Milk Fresh, Milk Powdered, Ghee, and Garlic were observed. It was noted that in most items prices in Balochistan are higher as compared to other Provinces. It was also noted that prices of Beef and mutton are much higher in Islamabad as compare to Rawalpindi.The concerned representative was advised to look into this and take necessary steps to ensure that supply of mutton and beef be available at reasonable prices. The chair also emphasized for market intelligence among the provinces and ICT. It was informed in the meeting that Food Security Division is consulting the provincial governments to overcome the shortcoming of market intelligence and the demand supply gap.The chair also took note of increase in prices of beef and mutton and to this aspect emphasized the control of livestock smuggling to neighboring countries. It was informed to the meeting that our population growth rate is 2.03 percent whereas animal growth rate is 3.7 percent, so we have surplus animals for export.
