Inflation has fallen from 2018 level: PM

ISLAMABAD: Prime Minister Imran Khan claimed on Sunday that inflation had currently declined from the level of 2018 when the Pakistan Tehreek-i-Insaf (PTI) came to power.

“The government’s efforts are coming to fruition as both the consumer price index and core inflation had touched lower than the time of government’s formation,” the prime minister said in his tweet.

“More good news on the economic front. Consumer price index & core inflation are both now lower than when our government was formed,” the prime minister said.

The prime minister instructed his economic team to stay vigilant and ens­ure that inflation stayed under control.

Planning Minister Asad Umar also said on Twitter that inflation during January was down to 5.7 per cent while core inflation was at 5.4pc.

“In July 2018, prior to the PTI government’s formation, CPI was 5.8 per cent and core inflation was 7.6 per cent,” the minister said in his tweet.

However, the Economic Survey 2019-20 released by the government as part of the current fiscal year’s budget documents and the current official data of the Pakistan Bureau of Statistics (PBS) depict a contrary picture about food inflation as the prices of essential items have gone up to between 50pc and over 80pc in the retail market as compared to prices in 2017-18.

The survey said that in 2017 the CPI was 4.5pc and core inflation 4.7pc.

According to the PBS data, a 20kg bag of wheat flour, whose price was Rs749 in 2017-18, is now being sold at Rs864 and sugar is being sold at Rs87 to Rs100 per kg against pre-PTI government price of Rs53.70 pr kg.