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ISLAMABAD: The Consumer Price Index (CPI)-based inflation increased to 23.1 percent on a year-on-year basis in February 2024 as compared to an increase of 28.3 percent in the previous month and 31.5 percent in February 2023, says the Pakistan Bureau of Statistics (PBS).

On average CPI stood at 27.96 percent during the first eight months (July-February) of the current fiscal year compared to 26.19 percent during the same period of the last fiscal year.

On a month-on-month basis, no change was observed in February 2024 as compared to an increase of 1.8 percent in the previous month and an increase of 4.3 percent in February 2023.

Pakistan’s headline inflation reading clocks in at 28.3% in January

CPI inflation Urban increased to 24.9 percent on a year-on-year basis in February 2024 as compared to an increase of 30.2 percent in the previous month and 28.8 percent in February 2023.

On a month-on-month basis, it increased to 0.2 percent in February 2024 as compared to an increase of 1.8 percent in the previous month and an increase of 4.5 percent in February 2023.

CPI inflation Rural increased to 20.5 percent on a year-on-year basis in February 2024 as compared to an increase of 25.7 percent in the previous month and 35.6 percent in February 2023. On a month-on-month basis, it decreased to 0.3 percent in February 2024 as compared to an increase of 1.9 percent in the previous month and an increase of 4.0 percent in February 2023.

The Sensitive Price Index (SPI) inflation on YoY increased to 30.4 percent in February 2024 as compared to an increase of 36.2 percent a month earlier and 33.6 percent in February 2023. On MoM basis, it decreased by 0.8 percent in February 2024 as compared to an increase of 2.0 percent a month earlier and an increase of 3.7 percent in February 2023.

The Wholesale Price Index (WPI) inflation on a YoY basis increased to 18.7 percent in February 2024 as compared to an increase of 27.0 percent a month earlier and an increase of 36.4 percent in February 2023. On MoM basis, it increased by 1.1 percent in February 2024 as compared to an increase of 1.5 percent in the previous month and an increase of 8.2 percent in the corresponding month of last year i.e. February 2023.

Measured by non-food non-energy Urban increased to 15.5 percent on(YoY) basis in February 2024 as compared to an increase of 17.8 percent in the previous month and 17.1 percent in February 2023. On MoM basis, it increased by 0.3 percent in February 2024 as compared to an increase of 1.1 percent in the previous month, and an increase of 2.2 percent in the corresponding month of last year i.e. February 2023.

Measured by non-food non-energy Rural increased to 21.9 percent on (YoY) basis in February 2024 as compared to an increase of 24.6 percent in the previous month and 21.5 percent in February 2023. On MoM basis, it increased by 0.4 percent in February 2024 as compared to an increase of 1.2 percent in the previous month, and an increase of 2.6 percent in the corresponding month of last year i.e. February 2023.

Measured by a 20 percent weighted trimmed mean Urban increased to 16.0 percent on (YoY) basis in February 2024 as compared to 22.1 percent in the previous month and 25.1 percent in February 2023. On MoM basis, it increased by 0.3 percent in February 2024 as compared to an increase of 1.0 percent in the previous month and an increase of 2.9 percent in the corresponding month of last year i.e. February 2023.

Measured by a 20 percent weighted trimmed mean Rural increased to 21.3 percent on a YoY basis in February 2024 as compared to 25.8 percent in the previous month and 31.6 percent in February 2023. On MoM basis, it increased to 0.4 percent in February 2024 as compared to an increase of 1.2 percent in the previous month and an increase of 3.9 percent in the corresponding month of last year i.e. February 2023.

The National Consumer Price Index for February 2024 is increased to 0.03 percent over January 2024 and increased to 23.06 percent over the corresponding month of the last year i.e. February 2023.

The Urban Consumer Price Index for February 2024 is increased to 0.24 percent over January 2024 and increased to 24.87 percent over the corresponding month of the last year i.e. February 2023. MoM basis top few commodities which varied from the previous month and increased in food include; fresh fruits (6.87 percent), honey (3.18 percent), fish (3.14 percent), besan (2.47 percent), moong (2.16 percent), pulse gram (1.48 percent), meat (1.23 percent), gram whole (1.15 percent), condiments and spices (1.06 percent), beverages (0.75 percent), dry fruits (0.60 percent), pan prepared (0.46 percent), beans (0.45 percent), rice (0.45 percent) and pulse mash (0.34 percent) and decreased in eggs (32.27 percent), tomatoes (25.02 percent), onions (7.98 percent), tea (7.87 percent), potatoes (5.63 percent), and cooking oil (0.99 percent).

Among non-food items which increased include gas charges (10.04 percent), motor fuel (3.53 percent), furniture and furnishing (1.78 percent), appliances/articles/products for personal care (1.06 percent), household servant (1.03 percent), electricity charges (0.90 percent), cleaning and laundering (0.83 percent), personal grooming services (0.80 percent), solid fuel (0.79 percent) and transport services (0.68 percent) and decreased in liquefied hydrocarbons (1.69 percent), and stationery (0.11 percent).

YoY basis top few commodities which varied from the corresponding month of the previous year i.e. February 2023 in food which increased include; tomatoes (114.55 percent), cigarettes (71.24 percent), condiments and spices (55.33 percent), sugar (53.43 percent), gur (46.50 percent), fresh vegetables (46.23 percent), wheat flour (44.95 percent), beans (41.37 percent), beverages (40.26 percent), tea (31.69 percent), maash (28.85 percent), dry fruits (24.99 percent), and fish (24.99 percent) each, sweetmeat (24.06 percent), potatoes (22.40 percent), milk powder (21.67 percent), pulse masoor (20.95 percent), wheat products (20.92 percent) and milk products (20.51 percent) and decreased in vegetable ghee (15.41 percent), mustard oil (14.30 percent), cooking oil (14.20 percent), fresh fruits (5.62 percent), pulse gram (0.73 percent), eggs (0.30 percent), besan (0.18 percent), and gram whole (0.05 percent).

Among non-food which increased include gas charges (318.74 percent), electricity charges (74.88 percent), transport services (35.07 percent), text books (34.72 percent), newspapers (34.15 percent), accommodation services (29.51 percent), appliances/articles/products for personal care (28.06 percent), stationery (27.68 percent), marriage hall charges (27.20 percent), cotton cloth (27.16 percent), household equipments (25.40 percent), furniture and furnishing (25.13 percent) and communication apparatus (24.53 percent) and decreased in liquefied hydrocarbons (7.48 percent).

The Rural Consumer Price Index for February 2024 is decreased to 0.25 percent over January 2024 and increased to 20.54 percent over the corresponding month of the last year i.e. February 2023. MoM top few commodities which varied from the previous month in food which increased include; moong (4.51 percent), fresh fruits (3.73 percent), butter (3.67 percent), chicken (3.33 percent), fish (3.11 percent), besan (3.05 percent), honey (1.91 percent), gram whole (1.80 percent), beans (1.72 percent), pulse gram (1.35 percent), milk products (1.27 percent), maash (1.09 percent), sweetmeat (1.04 percent), rice (0.97 percent), meat (0.75 percent), masoor (0.50 percent), readymade food (0.32 percent), and bakery and confectionary (0.32 percent) and decreased in eggs (32.16 percent), tomatoes (24.95 percent), potatoes (8.87 percent), tea (5.43 percent) and onions (3.09 percent). Among non-food items which increased include; motor fuels (3.74 percent), hosiery (1.85 percent), cotton cloth (1.61 percent), woolen readymade garments (1.08 percent), hospitals services (0.94 percent), electricity charges (0.90 percent), personal grooming services (0.89 percent), appliances/articles/products for personal care (0.87 percent), solid fuel (0.68 percent) and plastic products (0.62 percent) and decreased in liquefied hydrocarbons (1.76 percent).

YoY top few commodities which varied from corresponding month of previous year i.e. February 2023 in food which increased include tomatoes (98.87 percent), cigarettes (76.85 percent), sugar (53.35 percent), fresh vegetables (53.25 percent), gur (47.72 percent), wheat flour (44.19 percent), beverages (42.00 percent), beans (39.89 percent), tea (36.30 percent), maash (36.00 percent), potatoes (27.49 percent), bakery and confectionary (25.65 percent), rice (24.79 percent), butter (24.40 percent), readymade food (24.17 percent) and milk products (24.03 percent) and decreased in cooking oil (17.51 percent), vegetable ghee (14.93 percent), mustard oil (13.35 percent), and onions (7.79 percent).

Copyright Business Recorder, 2024

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