ISLAMABAD: The spokesperson of the Finance Division said on Tuesday major indicators of inflation witnessed a decline in December 2019 as compared with the previous month.
Omar Hamid Khan, the spokesperson of the Finance Division, said in his Twitter messages that the ministry recorded a reduction in inflation indicators including Consumer Price Index (CPI), Sensitive Price Indicator (SPI) and Wholesale Price Index (WPI) in the current month up to 0.3 per cent, 2.0 pc and 0.3 pc respectively under month-over-month comparison.
He said that the food inflation declined to -1.7 pc MoM for urban and -1.1 pc for rural consumers. He termed the development as a positive signal in terms of future inflation trajectory for the current fiscal year. Khan added the measures taken by the federal government in order to reduce inflation have started bearing fruits and the rate will further decline in 2020.
According to the MoM comparison, the prices of tomatoes witnessed reduction up to 36.5 pc, turnip (20.6 pc), radish (22.4 pc), onion (12.5 pc), peas (18.0 pc), chillies (17.6pc), carrot (16.9 pc), chicken (11.2 pc), spinach (11.0 pc), ginger(8.6 pc), lemon (3.9 pc), potato (2.0 pc), Cucumber (2.9pc) and wheat flour (1.1 pc).
The MoM inflation augur well for future inflation trajectory for the current fiscal year. Government measures to curb inflation have started to show results, we anticipate prices to come down further in 2020.
While commenting over the price controlling measures for essential commodities, the spokesperson said the authorities are taking aggressive steps for eliminating major contributory factors that cause the hike in rates.
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