Consumer price index
The consumer price index (CPI) is the instrument to measure inflation. It is used to estimate the average variation between two given periods in the prices of the products consumed by the household, which ramp ups providing trouble to the citizens. Accordingly Pakistan bureau of statistics (PBS) the CPI national for the month of February 2022 increased by 1.15 percent over January, 2022. The urban CPI recorded an increase of 0.93 percent while Rural CPI recorded an increase of 1.48 percent. The CPI measures the rate of inflation, which is one of the greatest threats to a healthy economy. And the report expresses the CPI, specifically inflation is increasing.
The government is performing its best to furnish its eminent services, although accordingly the report there some essentials which need to be taken seriously. The sensitive price index (SPI) is the measurement of the cost change in the necessities, indeed it is for penurious people that ramp ups when CPI escalate. And the penurious people get unable to fulfill their essential.
The world bank (WB) has estimated that poverty in Pakistan has escalated from 4.4 to 5.4 percent in 2020, as over two million people have fallen below the poverty line. The reason is CPI which is escalating with ease as no notice has being given to it might be.
The Pakistan has great relationship with neighboring countries. It must eradicate the all percent of inflation rather it is increasing gradually. The developed countries like china and Russia stand with Pakistan to trade and have collaboration, then the Pakistan should have progressed before 10 or 15 years. Although the percentages of CPI are escalating.
Simultaneously, the unemployment ratio increases as the people value of the Rupee will go down and the government even the private companies may not be able to hire workers, because of the escalation in producer price index (PPI). In these worsening situation, the country move towards low economy and deterioration.
The problem is not for one city, but for the entire country. The government should have a view over the problem of escalation in CPI, PPI and SPI so that the people must remain able to fulfill to complete their essentials by doing jobs. And it is present in the economics that the country development depends upon the productivity of the citizens. That how much they are capable of working. And if there is no jobs, then how do they express their productivity. Although they are productive. So, it is important that escalation of the CPI must be solved by the authorities.
You must be logged in to post a comment.