Massive rise in inflation across Pakistan
Consumer Price Index (CPI)-based inflation hit 27.3% on a year-on-year (YoY) basis in August 2022, compared to 24.9% in the previous month and 8.4% in August 2021, revealed data released on Thursday.
On a month-on-month basis, CPI-based inflation increased by 2.4% in August 2022 as compared to 4.3% in the previous month, and 0.6% in August 2021, stated the Pakistan Bureau of Statistics (PBS).
"CPI for the month of August 2022 clocked-in at 27.26% YoY (+2.45% MoM)," stated brokerage house Arif Habib Limited (AHL).
"This is the highest inflation since the first half of 1975, and takes 2MFY23 average inflation to 26.1% compared to 8.36% in 2MFY22. " AHL said after inflation figures were released. [image: Source: PBS]