ISLAMABAD – The remarkable decrease in petroleum products’ prices has helped reduce food inflation to 3 percent and non-food 4.5 percent in January this year as compared to 7.2 percent and 8.4 percent in same month last year.
Measured by Consumers Price Index (CPI), the headline inflation is on downward trajectory, as in January this year it has come down to 3.9 percent as compared to 7.9 percent last year.
Likewise, the Sensitive Price Indicators (SPIs), which monitor prices of 53 essential commodities, has also witnessed declining trend consecutively for the last six weeks.
National Price Monitoring Committee chaired by Finance Minister is also monitoring prices and supply position of essential commodities in consultation with provincial governments and concerned Federal Ministries Divisions and organisation on monthly basis. The Economic Coordination Committee (ECC) also reviewed inflationary trend, prices and supply of essential commodities in its meetings on regular basis.
Pakistan Railways reduced the normal freight by 5 percent across the board and it has also reduced fares by 5 percent for the trains including Bolan Mail, Bahauddin Zakaria Express, Fareed Express and Sukkur Express. Likewise, 25 percent discount has been offered on business class from New York, 20 percent discount offered in market for Torronto and upto 50 percent discount offered on business class fares from Pakistan to Europe, United Kingdom and North Americas.
