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Posted On: 15 July 2014 01:16 pm
Updated On: 12 November 2020 02:14 pm

Increasing rent adds to rising prices

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House rents rose 7.4 per cent year-on-year last June taking the rate of inflation in the country to 2.8 percent, official figures show.

The Ministry of Development Planning and Statistics said that rental charges of residential buildings were particularly going up. Rent is clubbed with fuel and energy in the Consumer Price Index (CPI) basket and the three together have the highest weight (32.2 percent) in it.

After rent, the expenditure head that saw the maximum price rise in a year (4.9 percent) until June comprised furniture, textiles and home appliances.

Transport and communications became 1.4 percent more expensive, while entertainment and recreation rose 1.2 percent, and those of garments and footwear, 1.1 percent.

Healthcare, on the other hand, did not witness a sharp price rise. It became costlier by a merely 0.6 percent year-on-year. As an expenditure head, healthcare has the least weight (two percent) in the CPI basket.

Food prices declined 0.6 percent in the period (from June 2013 to June 2014).

Food, incidentally, is clubbed with beverages and tobacco in the CPI basket and they together have a weight of 13.2 percent in the CPI basket.