ISLAMABAD: The Consumer Price Index (CPI) based inflation clocked in at 4.9 per cent on a year-on-year basis in November 2024 — lowest in 6.5 years, as compared to 7.2 per cent in the previous month and 29.2 per cent in November 2023, according to Pakistan Bureau of Statistics (PBS).
The Finance Ministry stated that Pakistan’s inflation is lowest in 6.5 years. Inflation for month of November 2024 has clocked in at 4.9 per cent —lowest reading in the last almost 78 months or a 6.5 years low.
With this, average inflation for 5 month fiscal year 2025 stands at 7.88 per cent compared to 28.62 per cent in the same period last year.
Such low pace of inflation should result in more monetary easing, leading to further decline in cost of capital for businesses and industries, and higher savings on debt servicing for the government resulting in improved fiscal balance in the coming months/quarters, the ministry added.
According to the PBS on month-on-month basis, the CPI increased by 0.5 per cent in November 2024 as compared to an increase of 1.2 per cent in the previous month and an increase of 2.7 per cent in November 2023.
CPI inflation Urban, decreased to 5.2per cent YoY basis in November 2024 as compared to the 9.3per cent in the previous month and 30.4per cent in November 2023. On MoM, it increased by 0.5per cent in November 2024 as compared to an increase of 1.1per cent in the previous month and an increase of 4.3per cent in November 2023.
CPI inflation Rural, increased by 4.3per cent on YoY basis in November 2024 as compared to 4.2per cent in the previous month and 27.5per cent in November 2023. On MoM, it increased by 0.5per cent in November 2024 as compared to an increase of 1.5per cent in the previous month and an increase of 0.4per cent in November 2023.
Sensitive Price Index (SPI) inflation on YoY decreased to 7.3per cent in November 2024 as compared to 9.7per cent a month earlier and 30.6per cent in November 2023. On MoM basis, it increased by 1.0per cent in November 2024 as compared to an increase of 0.6per cent a month earlier and an increase of 3.3per cent in November 2023.
Wholesale Price Index (WPI) inflation on YoY basis decreased to 2.3per cent in November 2024 as compared to 3.9per cent a month earlier and an increase of 26.4per cent in November 2023. On MoM basis, it decreased by 0.1per cent in November 2024 as compared to a no change in the previous month and an increase of 1.4per cent in corresponding month of last year i.e. November 2023.
Copyright Business Recorder, 2024
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