February CPI lowers at 12.2 pc: Muzammil

February CPI lowers at 12.2 pc: Muzammil

ISLAMABAD, Mar 1 (APP): Spokesperson to the Finance Minister, Muzzammil Aslam on Tuesday said that Consumer Price Index (CPI) inflation lowered by 12.2 percent in February as compared to 13 percent in January.

In a Tweet, he said that “Despite the lower inflation in February, the inflation surprise on upside due to unusual high movement in tomatoes prices and contributed almost 60% increase in February from January.”

It is pertinent to note that prices are tamed since November 2021 on month on month basis. Dec (-0.02%), January (0.4%) and February (0.6%) adjusted with tomatoes prices, he added.

Muzammil said that lastly, Core inflation is witnessing a declining trend in February at 7.8% from 8.2% in January.

Going forward, we expect tomatoes prices to start reverse from mid March on the arrival of crop in Punjab.