Inflation in Pakistan breaks 14 years old record
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Pakistan’s Consumer Price Index (CPI) based inflation in July 2022 increased to a 14-year high of 24.9 percent on a year-on-year (YoY) basis compared to an increase of 21.3 percent in the previous month and 8.4 percent in July 2021, says Pakistan Bureau of Statistics (PBS).
As per the monthly review of price indices by the PBS, on a month-on-month (MoM) basis, it increased by 4.3 percent in July 2022 as compared to an increase of 6.3 percent in the previous month and an increase of 1.3 percent in July 2021.
According to the PBS data, the prices of food and non-food items including potatoes, eggs, cooking oil, vegetable ghee, pulse masoor, wheat, rice, milk, electricity charges, motor fuels, construction input items, stationery, motor vehicles accessories, cleaning & laundering, liquefied hydrocarbons, and woolen cloth increased.
CPI inflation Urban, increased by 23.6 percent on a year-on-year basis in July 2022 as compared to an increase of 19.8 percent in the previous month and 8.7 percent in July 2021. On a month-on-month basis, it increased by 4.5 percent in July 2022 as compared to an increase of 6.2 percent in the previous month and an increase of 1.3 percent in July 2021.
CPI inflation Rural, increased by 26.9 percent on a year-on-year basis in July 2022 as compared to an increase of 23.6 percent in the previous month and 8.0 percent in July 2021. On a month-on-month basis, it increased by 4.2 percent in July 2022 as compared to an increase of 6.6 percent in the previous month and an increase of 1.4 percent in July 2021.
