ISLAMABAD - Contrary to the real market situation, the official figures of the government has claimed on Monday that inflation rate has drastically dropped to 6.9 per cent in November 2012 over the same period last year, a level achieved for the first time in five and a half years.

The official figures of Pakistan Bureau of Statistics (PBS) on Monday revealed that inflation rate has come to the record low level of 6.9 per cent in November 2012 against November 2011. Inflation rate has been recorded at lowest level during the so far tenure of the incumbent government. Due to constant decline in inflation rate, the State Bank of Pakistan (SBP) could reduce the interest rate that is 10.5 per cent at present. 

According to data released by the Pakistan Bureau of Statistics (PBS) here, inflation - measured by the Consumer Price Index - clocked in at 6.9pc in November, way below the government projection that inflation would be 9.5pc by the end of the current fiscal year in June 2013.

However, the general people and market sources are of the view that inflation has increased 100 to 200 per cent level in last few years mainly due to increase in petroleum product prices, electricity tariff increase and hike in support price of wheat.

According to PBS figures, the CPI based inflation has recorded an increase of 8.39 per cent during the first five months (July-November) of the ongoing financial year 2012-13 period, as against the same period of the preceding year 2011-12. Meanwhile, the Sensitive Price Indicator (SPI) has recorded at 7.31 per cent and Wholesale Price Index recorded at 7.61 per cent during the period under review.

The break-up of CPI-based general inflation (6.93 per cent in November 2012 over November 2011) showed that food and non-alcoholic beverages prices have gone up by 4.71 per cent, alcoholic beverages and tobacco prices have increased by 17.95 per cent, clothing and footwear prices soared by 14.51 per cent, housing water, electricity and gas fuels, 4.15 per cent, health care charges, 14.89 per cent, transportation charges, 9.44 per cent, communication charges 0.45 per cent, recreation and culture charges went up by 18.08 per cent, education charges, 9.84 per cent and restaurants and hotel charges by 10.31 per cent and miscellaneous 11.48 per cent in November 2012 against November 2011.

Meanwhile, according to the PBS figures, prices of chicken has increased by 7.69 per cent in the month of November against October, tea price enhanced by 6.71 per cent, prices of eggs went up by 6.49 per cent, prices of honey surged by 2.57 per cent, wheat prices enhanced by 2.12 per cent, fresh dry fruits, 1.79 per cent, fish, 1.35 per cent, beans, 1.21 per cent, wheat flour, 1.11 per cent and fresh milk 1.06 per cent in November as compared to October.

Similarly, prices of woolen readymade garments increased by 5.05 per cent, firewood whole, 2.25 per cent, washing soaps and detergents, 1.54 per cent, household servants charges, 1.49 per cent, cleaning and laundry and house rent, 1.43 per cent each, in November 2012 compared with the month of October 2012. 

However, according to the PBS figures, price of tomatoes decreased 16.24 per cent, price of onions down by 14.76 per cent, prices of fresh vegetables went down by 7.52 per cent, potatoes prices reduce by 3.79 per cent, fresh fruits and 3.35 per cent in November 2012 against in October.