Karachi, October 2, 2023 – Official data released on Monday by the Pakistan Bureau of Statistics (PBS) reveals a sharp increase in headline inflation, which soared to 31.4 percent on a year-on-year basis in September 2023.
This represents a significant uptick compared to the 27.4 percent increase recorded in the previous month and the 23.2 percent rate observed in September 2022.
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Consumer Price Index (CPI) General
On a month-on-month basis, the CPI General increased by 2.0 percent in September 2023, as opposed to a 1.7 percent increase in the previous month and a 1.2 percent decrease in September 2022.
Urban Inflation
Year-on-year basis: 29.7 percent in September 2023 (up from 25.0 percent in the previous month and 21.2 percent in September 2022).
Month-on-month basis: 1.7 percent in September 2023 (compared to a 1.6 percent increase in the previous month and a 2.1 percent decrease in September 2022).
Rural Inflation
Year-on-year basis: 33.9 percent in September 2023 (compared to 30.9 percent in the previous month and 26.1 percent in September 2022).
Month-on-month basis: 2.5 percent in September 2023 (compared to a 1.9 percent increase in the previous month and a 0.2 percent increase in September 2022).
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Sensitive Price Indicator (SPI) Inflation
Year-on-year, SPI inflation increased to 32.0 percent in September 2023, up from 27.9 percent in the previous month and 28.6 percent in September 2022. On a month-on-month basis, it grew by 1.7 percent in September 2023, in contrast to a 4.1 percent increase in the previous month and a 1.4 percent decrease in September 2022.
Wholesale Price Index (WPI) Inflation
On a year-on-year basis, WPI inflation reached 26.4 percent in September 2023, compared to 24.3 percent in the previous month and 38.9 percent in September 2022. On a month-on-month basis, it increased by 3.1 percent in September 2023, contrasting with a 4.2 percent increase in the previous month and a 1.4 percent increase in September 2022.
Non-Food Non-Energy Inflation
Urban (YoY): 18.6 percent in September 2023 (up from 18.4 percent in the previous month and 14.4 percent in September 2022).
Urban (MoM): 1.0 percent in September 2023 (compared to a 1.8 percent increase in the previous month and a 0.9 percent increase in September 2022).
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Rural (YoY): 27.3 percent in September 2023 (up from 25.9 percent in the previous month and 17.6 percent in September 2022).
Rural (MoM): 2.6 percent in September 2023 (compared to a 2.8 percent increase in the previous month and a 1.4 percent increase in September 2022).
20 Percent Weighted Trimmed Mean Inflation
Urban (YoY): 25.0 percent in September 2023 (up from 23.0 percent in the previous month and 19.5 percent in September 2022).
Urban (MoM): 1.1 percent in September 2023 (compared to a 1.5 percent increase in the previous month and a 1.6 percent increase in September 2022).
Rural (YoY): 33.3 percent in September 2023 (up from 30.5 percent in the previous month and 24.4 percent in September 2022).
Rural (MoM): 1.7 percent in September 2023 (compared to a 1.4 percent increase in the previous month and a 2.5 percent increase in September 2022).
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The surge in inflation, particularly in rural areas, poses significant challenges to Pakistan’s economy. Rising prices for essential goods and services continue to put pressure on consumers and the overall cost of living. Policymakers will need to address these inflationary pressures to ensure the country’s economic stability and the well-being of its citizens.
