record low of -1.05 percent in April 2015.
In July 2015, prices of clothing and footwear went up 4.84 percent, and furnishings and household equipment maintenance by 4.46 percent.
Charges related to recreation and culture rose 2.25 percent and restaurants and hotels 4.38 percent in July over the same month in 2014. However, transportation fares were down negative 9.96 percent.
Interestingly, the low inflationary trend, following a fall in global oil prices, allowed the central bank to cut interest rate in successive monetary policy announcements from November 2014 onwards. Last month, the SBP slashed the policy rate for the fifth time to a 42-year low of 6.5 percent in a bid to spur economic growth.
Historically, inflation averaged at 7.99 percent from 1957 until 2015. It was recorded at all time high of 37.81 percent in December 1973 and record low of minus -10.32 percent in February of 1959.
In July 2015, core Inflation, excluding food and energy costs, stood at 4.1 percent as compared to 4.6 percent in the previous month and 8.3 percent in July 2014. The wholesale price index, on a year-on-year basis, dropped 2.9 percent in July as compared to two percent decrease a month ago and increase of 6.6 percent in July 2014.
The sensitive price indicator, which gauges weekly-based inflation in kitchen items, decreased half a percent in July 2015 year-on-year, as compared to increase of 1.1 percent a month ago and 5.9 percent rise in July 2014.
On month-on-month basis, pulse gram prices increased 8.3 percent, fresh fruits 7.2pct, potatoes 6.8pct, Besan 5.6pct, sugar 5.4pct, gram whole 3.1pct, Gur 2.5pct, cigarettes 1.7pct, tea 1.3pct, eggs 1.3pct, meat 1.1pct and beverages 1.1pct in July over the previous month.
However, prices of tomatoes were down 29pct, onions 8.8pct, chicken 5.3pct, fresh vegetables 3.7pct, pulse moong 1.7pct, beans 1.6pct, betel leaves and nuts 1.4pct and fish 1.03pct.
Year on year, gram pulse prices were up 38pct, besan 32.4pct, mash pulse 21.3pct, cigarettes 16.7pct, sugar 15.5pct, chicken 14pct, tea 13.5pct, gram whole 11.2pct and onions 10.7pct over the same month of the last year.
Besides, prices of potatoes were down 62.5pct, cooking oil 12.2pct, tomatoes 11.3pct, vegetable ghee 10.8pct and rice 10.57pct over July 2014. Price of kerosene oil dropped 19.7 percent and motor fuel 18.8 percent.