CPI witnessed 11.56% rise in August after change of base year – Alfalah Securities Limited
Karachi: The Consumer Price Index (CPI) registered an 11.56% rise in August 2011 against the same period last year after the government changed its base year from FY01 to FY08.
According to the Alfalah Securities Limited, figures of FBS stated that the CPI inflation rose by 12.39% in August 2011 on YoY basis as per the old base year however, it increased by 11.56% when calculated through the new base. The lowest income bracket level also rose to PkR 8,000 from PkR 3,000 while the higher income bracket mounted to PkR 35,000 from earlier PkR 12,000. The total number of products has increased to 487 items from earlier 374 while, the number of groups were also enhanced to 12 from previously 10. The change in the base year might enable inflation to come down to a single digit owing to the high base effect.