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ISLAMABAD: Consumer Price Index (CPI) surged to a multi-decade high of 27.3 percent on a year-on-year basis in August 2022 from a year earlier, government data showed on Thursday, as authorities warn massive flooding in the country could exacerbate already skyrocketing prices.

The average inflation in the first two months of the current fiscal year 2023 is 26.1 per cent compared to 8.36 per cent in 2022.

As per the monthly review of price indices by the PBS, on a month-on-month basis, the CPI increased by 2.4 per cent in August 2022 as compared to an increase of 4.3per cent in the previous month and an increase of 0.6per cent in August 2021.

The National Consumer Price Index for August 2022 is increased by 2.45per cent over July 2022 and increased by 27.26per cent over the corresponding month of the last year i.e. August 2021.

According to the PBS data, the Wholesale Price Index (WPI) inflation on a YoY basis increased by 41.2per cent in August 2022 as compared to an increase of 38.5per cent a month earlier and an increase of 17.1per cent in August 2021 which indicates the inflation is expected to further increase in coming days and months.

The prices of food and non-food items including tomatoes, potatoes, onions, eggs, masoor, wheat, rice, milk, electricity charges, motor fuels, construction input items, electricity charges, stationery, motor vehicles accessories, cleaning and laundering, liquefied hydrocarbons, and woolen cloth increased.

The CPI inflation Urban, increased by 26.2per cent on a year-on-year basis in August 2022 as compared to an increase of 23.6per cent in the previous month and 8.3per cent in August 2021. On a month-on-month basis, it increased by 2.6per cent in Aug 2022 as compared to an increase of 4.5per cent in the previous month and an increase of 0.5per cent in August 2021. The CPI inflation Rural, increased by 28.8per cent on a year-on-year basis in August 2022 as compared to an increase of 26.9per cent in the previous month and 8.4per cent in August 2021. On a month-on-month basis, it increased by 2.2per cent in August 2022 as compared to an increase of 4.2per cent in the previous month and an increase of 0.7per cent in August 2021.

Sensitive Price Index (SPI) inflation on YoY increased by 34.0per cent in August 2022 as compared to an increase of 28.2per cent a month earlier and an increase of 15.9per cent in August 2021. On a MoM basis, it increased by 5.2per cent in August 2022 as compared to an increase of 7.3per cent a month earlier and an increase of 0.7per cent in August 2021.

Wholesale Price Index (WPI) inflation on a YoY basis increased by 41.2per cent in August 2022 as compared to an increase of 38.5per cent a month earlier and an increase of 17.1per cent in Aug 2021. WPI inflation on a MoM basis increased by 3.1per cent in August 2022 as compared to an increase of 2.0per cent a month earlier and an increase of 1.2per cent in the corresponding month i.e. August 2021.

Measured by non-food non-energy Urban increased by 13.8per cent on YoY basis in August 2022 as compared to an increase of 12.0per cent in the previous month and 6.3per cent in August 2021. On a MoM basis, it increased by 1.8per cent in August 2022 as compared to an increase of 1.2per cent in the previous month, and an increase of 0.2per cent in the corresponding month of last year i.e. August 2021.

Measured by non-food non-energy Rural increased by 16.5per cent on a YoY basis in August 2022 as compared to an increase of 14.6per cent in the previous month and 6.2per cent in August 2021. On a (MoM) basis, it increased by 1.8per cent in August 2022 as compared to an increase of 1.6per cent in previous month, and an increase of 0.2per cent in the corresponding month of last year i.e. August 2021.

Measured by 20per cent weighted trimmed mean Urban increased by 21.4per cent on a YoY basis in August 2022 as compared to 19.1per cent in the previous month and 7.8per cent in August 2021. On a MoM basis, it increased by 1.7per cent in August 2022 as compared to an increase of 2.7per cent in the previous month and an increase of 0.4per cent in the corresponding month of last year i.e. August 2021.

Measured by 20per cent weighted trimmed mean Rural increased by 23.8per cent on a YoY basis in August 2022 as compared to 21.7per cent in the previous month and by 7.8per cent in August 2021. On a MoM basis, it increased by 1.8per cent in August 2022 as compared to an increase of 2.7per cent in the previous month and an increase of 0.6per cent in corresponding month of last year i.e. August 2021.

Top few commodities, which varied from the previous month and contributed to Urban CPI among food which registered an increase are tomatoes (52.85per cent), pulse moong (15.27per cent), vegetables (13.44per cent), pulse mash (12.47per cent), masoor (11.76per cent), eggs (7.53per cent), besan (6.5per cent), pulse gram (6.08per cent), gram whole (5.67per cent), potatoes (4.99per cent), beans (3.07per cent) and cooking oil (2.34per cent). Decreased among fruits (19.98per cent), chicken (11.54per cent) and vegetable ghee (0.74per cent).non-food increased: electricity charges (19.73per cent), liquefied hydrocarbons (8.53per cent), readymade garments (7.85per cent), construction input items (7.53per cent), stationery (7.29per cent), cleaning & laundering (6.73per cent), motor vehicle accessories (5.20per cent), cotton cloth (4.67per cent) and furniture & furnishing (2.33per cent) decreased: motor fuel (2.60per cent).

Year-on-year top few commodities which varied from corresponding month of previous year, ie, August 2021 and increased among food include are: food increased: masoor (114.34per cent), onions (90.54per cent), mustard oil (81.16per cent), gram whole (77.23per cent), cooking oil (74.66per cent), vegetable ghee (69.82 per cent), pulse gram (60.25 per cent), chicken (59.89 per cent), pulse mash (52.70 per cent), besan (47.83 per cent), wheat (44.48 per cent), vegetables (41.62 per cent), tomatoes (38.02 per cent), rice (36.28 per cent), eggs (35.27 per cent), meat (26.81 per cent) and milk (25.01 per cent) and decreased in condiments and spices (17.43 per cent) and sugar (15.69 per cent). non-food increased: electricity charges (123.37 per cent), motor fuel (84.21 per cent), stationery (44.12 per cent), cleaning and laundering (39.16 per cent), liquefied hydrocarbons (33.66 per cent), washing soap/detergents/matchbox (28.86 per cent), construction input items (27.77 per cent), motor vehicle accessories (27.37 per cent) and cotton cloth (23.53 per cent).

The top few commodities, which varied from the previous month and contributed to rural CPI and which increased among food items are tomatoes (30.02 per cent), vegetables (19.62 per cent), pulse mash (15.15 per cent), masoor (13.69 per cent), pulse moong (12.71 per cent), besan (9.71 per cent), pulse gram (8.92 per cent), condiments & spices (7.73 per cent), eggs (6.55 per cent), gram whole (6.29 per cent), potatoes (5.51 per cent), onions (4.26 per cent), beans (3.57 per cent), rice (3.57 per cent) and meat (1.88 per cent) and decreased in fruits (24.28 per cent), chicken (13.64 per cent), vegetable ghee (2.86 per cent), cooking oil (2.54 per cent), mustard oil (1.18 per cent) and sugar (0.31 per cent) non-food increased: electricity charges (19.73 per cent), liquefied hydrocarbons (6.97 per cent), cleaning and laundering (3.42 per cent), footwear (3.30 per cent), stationery (2.97 per cent), furniture & furnishing (2.83 per cent), readymade garments (2.40 per cent) and cotton cloth (1.88 per cent). Decreased: motor fuels (3.16 per cent).

Copyright Business Recorder, 2022

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