CPI inflation on average reached to 10.9pc, NPMC meeting told.

Islamabad -- The National Price Monitoring Committee (NPMC) was informed on Friday that CPI inflation year on year is recorded at 8.2 percent in May 2020 over May 2019 and July-May, adding that CPI inflation on average reached to 10.9 percent.

It was noted, in the meeting, that inflation is on continuously declining trend since January 2020, due to policy, administrative and relief measures of the Federal and provincial governments.

The NPMC meeting was held under the Chairmanship of Finance Secretary to discuss the price trend of essential food items.

It was also observed that price trend in international market is on declining trend which will augur well for the domestic prices in near future. Government is proactively taking measures to control the general price level of daily use items at Federal, provincial and district levels.

It has been noticed that Sensitive Price Indicator (SPI) which monitors the price movement of 51 essential items on weekly basis recorded an increase of 0.05% for the week ended on 11th June, 2020. During the week, 10 items recorded decline in their prices while 22 items remain stable.

The last week ended on 04th June 2020 recorded a decline of 0.42 percent. The Chair informed that the recent Cabinet meeting took notice of the price hike in poultry sector. The Chair discussed the matter in details with all stakeholders and examined the demand and supply dynamics of poultry products and directed provincial governments and ICT administration to take strict actions...