Consumer Price Index based on monthly inflation grew by 10.49 percent in August
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ISLAMABAD - The Consumer Price link Index (CPI) based monthly inflation grew by 10.49 percent in August link, 2019 link compared to same link of last year.
On month-on-month basis the CPI national with base year (2015-16) for the month of August link, 2019 link increased by 1.64 percent over July link, 2019 link, Member National Accounts Pakistan link Bureau of Statistics (PBS) Dr Bahrawar Jan told the media link here at a press briefing.
The average inflation rate during first two months of current fiscal year (Jul-Aug) 2019-20 also grew by 9.44 percent compared to same link period of last year.
The member accounts PBS said that during the month, the urban CPI recorded an increase of 1.46% while rural CPI rose by 1.91%, however CPI with old base year (2007-08) recorded an increase of 1.38%.
"In the old system of price link monitoring, we used to give equal weight link to all link areas including that of rural and urban areas, whereas in the new base year (2015-16), number of new methodologies have been introduced such as introduction of General Sales Tax, other taxes and fuelprice link adjustment to compute electricity link to be used for the computation of indices," he added.
Dr Bahrawar said now monitoring of price link checking had been made strict by utilizing the modern technology link.
