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Inflation falls to 13-month low
20
Feb '09
The following is the statement of Department of Economic Affairs, Ministry of Finance on inflation issued:
“Annual (year-on-year) rate of inflation fell below the 4 per cent threshold to 3.9 per cent for the week ended February 7, 2009 from 4.4 per cent in the week ended January 31, a fall of 47 basis points. The current rate of inflation is the lowest since the 3.8 per cent recorded in the week ended December 29, 2007.

The official Wholesale Price Index for 'All Commodities' (Base: 1993-94 = 100) for the week ended 7th February, 2009 declined by 0.2 percent to 228.0 (Provisional) from 228.4 (Provisional) for the previous week.

The annual rate of inflation, calculated on point to point basis, stood at 3.92 percent (Provisional) for the week ended 07/02/2009 (over 09/02/2008) as compared to 4.39 percent (Provisional) for the previous week (ended 31/01/2009) and 4.98 percent during the corresponding week (ended09/02/2008) of the previous year.

The movement of the index for the various commodity groups is summarized below:-
The index for 'Textiles' group declined by 0.7 percent to 139.0 (Provisional) from 140.0 (Provisional) for the previous week due to lower prices of cotton yarn-cones (4%) and cotton yarn-hanks (1%). However, the prices of cotton knitted garments (4%) and texturised yarn and hessian cloth (2% each) moved up.

The index for 'Leather & Leather Products' group declined by 1.2 percent to 167.4 (Provisional) from 169.5 (Provisional) for the previous week due to lower prices of footwear western type (1%).

The index for 'Chemicals & Chemical Products' group rose by 0.4 percent to 217.7 (Provisional) from 216.9 (Provisional) for the previous week due to higher prices of thinners (28%), purified terephthalic acid (pta) (9%), benzene (7%), p.v.c. resins (5%) and calcium ammonium nitrate n-content (4%). However, the prices of enamels (3%) declined.

The index for 'Machinery & Machine Tools' group declined by 1.8 percent to 172.4 (Provisional) from 175.6 (Provisional) for the previous week due to lower prices of other cables (26%), rubber insulated cables (24%), enamelled copper wires (8 %) and p.v.c. insulated cables (7%).

Ministry of Finance

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