ISLAMABAD: The headline inflation of Pakistan based on Consumer Price Index (CPI) increased by 24.5 per cent Year on Year (YoY) in December 2022 as compared to an increase of 23.8 per cent
(more…)Tag: Headline inflation
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Pakistan’s inflation increases by 23.8pc in November 2022
Pakistan’s headline inflation based on Consumer Price Index (CPI) increased by 23.8 per cent in November 2022, according to official data revealed on Thursday.
CPI inflation General, increased to 23.8 per cent on year-on-year basis in November 2022 as compared to an increase of 26.6 per cent in the previous month and 11.5 per cent in November 2021. On month-on-month basis, it increased to 0.8 per cent in November 2022 as compared to an increase of 4.7 per cent in the previous month and an increase of 3.0 per cent in November 2021.
READ MORE: Headline inflation surges by 26.6% in October 2022
CPI inflation Urban, increased to 21.6 per cent on year-on-year basis in November 2022 as compared to an increase of 24.6 per cent in the previous month and 12.0 per cent in November 2021. On month-on-month basis, it increased to 0.4 per cent in November 2022 as compared to an increase of 4.5 per cent in the previous month and an increase of 2.9 per cent in November 2021.
READ MORE: Pakistan’s headline inflation rises 23.2% in September 2022
CPI inflation Rural, increased to 27.2 per cent on year-on-year basis in November 2022 as compared to an increase of 29.5 per cent in the previous month and 10.9 per cent in November 2021. On month-on-month basis, it increased to 1.3 per cent in November 2022 as compared to an increase of 5.0 per cent in the previous month and an increase of 3.1 per cent in November 2021.
READ MORE: Pakistan’s headline inflation hits 47-year high in August 2022
Sensitive Price Indicator (SPI) inflation on YoY increased to 27.1 per cent in November 2022 as compared to an increase of 24.0 per cent a month earlier and an increase of 18.1 per cent in November 2021. On MoM basis, it increased by 6.1 per cent in November 2022 as compared to a decrease of 1.5 per cent a month earlier and an increase of 3.6 per cent in November 2021.
READ MORE: Pakistan inflation hits 14-year high at 25% in July
Wholesale Price Index (WPI) inflation on YoY basis increased to 27.7 per cent in November 2022 as compared to an increase of 32.6 per cent a month earlier and an increase of 27.0 per cent in November 2021. On MoM basis, it decreased by 0.02 per cent in November 2022 as compared to a decrease of 0.5 per cent a month earlier and an increase of 3.8 per cent in corresponding month i.e. November 2021.
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Headline inflation surges by 26.6% in October 2022
ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) registered an increase of 26.6 per cent in the month of October 2022, according to data released by Pakistan Bureau of Statistics (PBS) on Tuesday.
The details showed that CPI inflation general increased to 26.6 per cent on a year-on-year basis in October 2022 as compared to an increase of 23.2 per cent in the previous month and 9.2 per cent in October 2021. On a month-on-month basis, it increased to 4.7 per cent in October 2022 as compared to a decrease of 1.2 per cent in the previous month and an increase of 1.9 per cent in October 2021.
READ MORE: Pakistan’s headline inflation rises 23.2% in September 2022
CPI inflation Urban, increased to 24.6 per cent on year-on-year basis in October 2022 as compared to an increase of 21.2 per cent in the previous month and 9.6 per cent in October 2021. On month-on-month basis, it increased to 4.5 per cent in October 2022 as compared to a decrease of 2.1 per cent in the previous month and an increase of 1.7 per cent in October 2021.
CPI inflation Rural, increased to 29.5 per cent on year-on-year basis in October 2022 as compared to an increase of 26.1 per cent in the previous month and 8.7 per cent in October 2021. On month-on-month basis, it increased to 5.0 per cent in October 2022 as compared to an increase of 0.2 per cent in the previous month and an increase of 2.2 per cent in October 2021.
READ MORE: Pakistan’s headline inflation hits 47-year high in August 2022
Sensitive Price Indicator (SPI) inflation on YoY increased to 24.0 per cent in October 2022 as compared to an increase of 28.6 per cent a month earlier and an increase of 15.3 per cent in October 2021. On MoM basis, it decreased by 1.5 per cent in October 2022 as compared to a decrease of 1.4 per cent a month earlier and an increase of 2.1 per cent in October 2021.
READ MORE: Pakistan inflation hits 14-year high at 25% in July
Wholesale Price Index (WPI) inflation on YoY basis increased to 32.6 per cent in October 2022 as compared to an increase of 38.9 per cent a month earlier and an increase of 21.2 per cent in October 2021. On MoM basis, it decreased by 0.5 per cent in October 2022 as compared to an increase of 1.4 per cent a month earlier and an increase of 4.2 per cent in corresponding month i.e. October 2021.
READ MORE: Pakistan inflation crosses 33% on high petroleum prices
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Headline inflation likely to increase 22.7% in October 2022
KARACHI: Headline inflation based on Consumer Price Index (CPI) likely to increase by 22.7 per cent Year on Year (YoY) in October 2022.
Analysts at Arif Habib Limited expect that October 2022 inflation to settle at 22.7 per cent YoY compared to 9.91 per cent in October 2021 and 23.18 per cent in September 2022, respectively.
READ MORE: Pakistan’s headline inflation rises 23.2% in September 2022
With this, average inflation for first four months of the fiscal year 2022-2023 clocks-in at 24.5 per cent compared to 8.73 per cent in the same months of the previous fiscal year.
The YoY uptick in CPI will likely be led by Food (33.3 per cent YoY), Transport (50.1 per cent YoY), Housing (1.2 per cent YoY), Restaurants & Hotels (30.6 per cent YoY), Household Equipment (25.9 per cent YoY), Recreation & Culture (24.8 per cent YoY), Clothing & Footwear (17.9 per cent YoY) and Miscellaneous (24.7 per cent YoY).
On a Month on Month (MoM) basis, CPI reading is expected to increase 1.5 per cent. This month we expect MoM inflation to remain under pressure mainly on the back of surge in prices of Food items.
READ MORE: Pakistan’s headline inflation hits 47-year high in August 2022
The Food Index is expected to post an increase of 3.3 per cent MoM in October 2022.
As per Sensitive Price Index (SPI) data published by the Pakistan Bureau of Statistics (PBS), increase in average prices of wheat, onions, tomatoes and tea will keep the inflation in-check.
On the contrary, the transportation index is likely to post a decline of 3.9 per cent MoM on account of cut in domestic petroleum product prices.
Moreover, Housing index is expected to post marginal increase of 0.2 per cent MoM, despite quarterly house rent adjustment, mainly due to decline in LPG prices.
READ MORE: Pakistan’s sensitive price inflation surges by 45%
Headline inflation remains elevated while core inflation continues its upward trajectory. However, with high base-effect kicking-in, headline numbers are expected to come down.
On the monetary policy front, the State Bank of Pakistan (SBP) in its latest monetary policy meeting held on Oct 10th, 2022 kept the benchmark policy rate unchanged at 15 per cent.
As per the SBP, this current stance was taken in lieu of a continued deceleration in economic activity as well as a decline detected in headline inflation since the last meeting.
Moreover, the MPC was of the view that the existing rate prudently strikes a balance between maintaining growth post floods and managing inflation.
READ MORE: Pakistan’s sensitive price inflation surges by 37.67%
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Pakistan’s headline inflation hits 47-year high in August 2022
ISLAMABAD: The headline inflation in Pakistan has recorded 47-year at 27.3 per cent in August 2022. This is a 47-Year high after 1975 and has crossed peak levels of global financial crisis 2008 of 25.3 per cent, according to Fahad Rauf, analyst at Ismail Iqbal Securities.
Pakistan Bureau of Statistics (PBS) on Thursday issued the data of Consumer Price Index (CPI) stating that it increased by 27.3 per cent on year-on-year basis in August 2022 as compared to an increase of 24.9 per cent in the previous month and 8.4 per cent in Aug 2021.
READ MORE: Pakistan’s sensitive price inflation surges by 45%
On month-on-month basis, it increased by 2.4 per cent in August 2022 as compared to an increase of 4.3 per cent in the previous month and an increase of 0.6 per cent in August 2021.
CPI inflation Urban, increased by 26.2 per cent on year-on-year basis in August 2022 as compared to an increase of 23.6 per cent in the previous month and 8.3 per cent in August 2021.
On month-on-month basis, it increased by 2.6 per cent in August 2022 as compared to an increase of 4.5 per cent in the previous month and an increase of 0.5 per cent in August 2021.
READ MORE: Pakistan’s sensitive price inflation surges by 37.67%
CPI inflation Rural, increased by 28.8 per cent on year-on-year basis in August 2022 as compared to an increase of 26.9 per cent in the previous month and 8.4 per cent in August 2021.
On month-on-month basis, it increased by 2.2 per cent in August 2022 as compared to an increase of 4.2 per cent in the previous month and an increase of 0.7 per cent in August 2021.
Sensitive Price Indicator (SPI) based inflation on YoY increased by 34.0 per cent in August 2022 as compared to an increase of 28.2 per cent a month earlier and an increase of 15.9 per cent in August 2021.
READ MORE: Pakistan’s headline inflation may up 24% in July 2022
On MoM basis, it increased by 5.2 per cent in August 2022 as compared to increase of 7.3 per cent a month earlier and an increase of 0.7 per cent in August 2021.
Wholesale Price Index (WPI) based inflation on YoY basis increased by 41.2 per cent in August 2022 as compared to an increase of 38.5 per cent a month earlier and an increase of 17.1 per cent in August 2021.
WPI inflation on MoM basis increased by 3.1 per cent in August 2022 as compared to an increase of 2.0 per cent a month earlier and an increase of 1.2 per cent in corresponding month i.e. August 2021.
READ MORE: Pakistan inflation crosses 33% on high petroleum prices
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Pakistan inflation hits 14-year high at 25% in July
KARACHI: The headline inflation based on Consumer Price Index (CPI) in Pakistan has recorded 14-year high and surged by around 25 per cent in July 2022 on year on year (YoY) basis.
According to data released by Pakistan Bureau of Statistics (PBS) on Monday, the CPI inflation General, increased by 24.9 per cent on year-on-year basis in July 2022 as compared to an increase of 21.3 per cent in the previous month and 8.4 per cent in July 2021.
READ MORE: Pakistan’s sensitive price inflation surges by 37.67%
On month-on-month basis, it increased by 4.3 per cent in July 2022 as compared to an increase of 6.3 per cent in the previous month and an increase of 1.3 per cent in July 2021.
CPI inflation Urban, increased by 23.6 per cent on year-on-year basis in July 2022 as compared to an increase of 19.8 per cent in the previous month and 8.7 per cent in July 2021.
On month-on-month basis, it increased by 4.5 per cent in July 2022 as compared to an increase of 6.2 per cent in the previous month and an increase of 1.3 per cent in July 2021.
READ MORE: Pakistan’s headline inflation may up 24% in July 2022
CPI inflation Rural, increased by 26.9 per cent on year-on-year basis in July 2022 as compared to an increase of 23.6 per cent in the previous month and 8.0 per cent in July 2021.
On month-on-month basis, it increased by 4.2 per cent in July 2022 as compared to an increase of 6.6 per cent in the previous month and an increase of 1.4 per cent in July 2021.
Sensitive Price Indicator (SPS) based inflation on YoY increased by 28.2 per cent in July 2022 as compared to an increase of 21.7 per cent a month earlier and an increase of 16.2 per cent in July 2021.
READ MORE: Pakistan inflation crosses 33% on high petroleum prices
On MoM basis, it increased by 7.3 per cent in July 2022 as compared to increase of 6.2 per cent a month earlier and an increase of 1.8 per cent in July 2021.
The Wholesale Price Index (WPI) inflation on YoY basis increased by 38.5 per cent in July 2022 as compared to an increase of 38.9 per cent a month earlier and an increase of 17.3 per cent in July 2021.
WPI inflation on MoM basis increased by 2.0 per cent in July 2022 as compared to an increase of 8.2 per cent a month earlier and increase of 2.3 per cent in corresponding month i.e. July 2021.
READ MORE: Petroleum prices in Pakistan push inflation 13-year high
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Pakistan’s headline inflation may up 24% in July 2022
KARACHI: Pakistan’s headline inflation may settle at 24 per cent for the month of July 2022 as compared to 8.41 per cent in July 2021 and 21.3 per cent in June 2022.
Analysts at Arif Habib Limited said that Consumer Price Index (CPI) for the month of July 2022 would mark the beginning of fiscal year 2022/2023 figures compared to 8.9 per cent in the previous fiscal year.
READ MORE: Pakistan inflation crosses 33% on high petroleum prices
The Year on Year (YoY) uptick in CPI will likely be led by Transport (67.5 per cent YoY), Food (27.6 per cent YoY), Housing (18.3 per cent YoY), Restaurants & Hotels (26.6 per cent YoY), Household Equipment (20.3 per cent YoY), Recreation & Culture (14.9 per cent YoY), Clothing & Footwear (16.1 per cent YoY) and Miscellaneous (15.4 per cent YoY).
On a Month on Month (MoM) basis, CPI reading is expected to increase 3.52 per cent. The analysts expected that MoM inflation to remain under pressure for the month of July 2022 mainly on the back of surge in prices of Transport, Housing related and Food items. The Transportation index is likely to keep MoM inflation up by 7.4 per cent MoM.
READ MORE: Petroleum prices in Pakistan push inflation 13-year high
This huge surge is on account of increase in petroleum product prices. Moreover, Food index is expected to post a 3.1 per cent MoM in July 2022. As per Sensitive Price Index (SPI) data published by the Pakistan Bureau of Statistics (PBS), increase in average prices of Potatoes, Pulses, Onions and Cooking oil will keep the inflation in-check. Moreover, on the back of quarterly house rent adjustment, higher electricity charges and increase in construction cost, housing index too is likely to remain up MoM by 5.7 per cent.
Given the recent developments on the fiscal front including rollback of subsidy on petroleum products along with increase in prices and hike in electricity prices, headline inflation is expected to remain elevated in the following months.
READ MORE: Average inflation estimated up to 12% in FY22
It is likely to remain in the double digit in August 2022 as well, averaging over 18 per cent in the current fiscal year along with increase in core inflation. Moreover, in the monetary policy meeting held on July 7, 2022, the State Bank of Pakistan (SBP) increased the benchmark policy rate by 125 basis points to 15 per cent (highest since March 1999).
Moreover, rates on EFS and LTFF loans were linked to the policy rate, in-line with our expectations, at a 500 basis points discount though (to 10 per cent), so as to continue incentivizing exports while ensuring monetary tightening penetrates effectively.
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Petroleum prices in Pakistan push inflation 13-year high
KARACHI: The continuous rise in petroleum prices in Pakistan have pushed headline inflation up 13-year high at 21 per cent in June 2022.
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KCCI appeals rescuing small traders in Catch-22 situation
Karachi Chamber of Commerce and Industry (KCCI) on Saturday declared Catch-22 situation and urged the government to rescue small traders from its fallout.
Chairman Businessmen Group Zubair Motiwala and President KCCI Muhammad Idrees, while referring to upsurge in petroleum prices by Rs60 within a week along with exorbitant hike of Rs7.91 in electricity base tariff and 44 percent increase in SSGC’s gas tariff by OGRA, stated that a catch-22 situation has been created not only for the industries but also for all segments of society particularly the poor masses and small traders/ shopkeepers who simply cannot bear the burnt and were extremely worried over across-the-board inflation triggered by the rising petroleum prices, gas and electricity tariffs.
READ MORE: Energy price hike jolts trade, industry: Businessmen Panel
In a joint statement, Chairman BMG and President KCCI said that it was really unfortunate that the issues being confronted by small traders, who are an integral part of the economy, were not in government’s priority list and it appears that they have been left alone during the ongoing difficult times.
Zubair Motiwala appealed the government to come forward to rescue the small traders and shopkeepers by devising some kind of an effective mechanism to protect their interest and announce a special relief package for small traders/ shopkeepers which could reduce their cost and ensures that they survive in this era of inflation.
READ MORE: Govt. halts gas supply to export industry: APTMA
He said that the inflation has badly gripped the entire society as prices of almost all the household items have skyrocketed making them unaffordable for majority of the public while those people, who were somehow able to afford, have also become very cautious that has brought down the shopkeepers’ sales to somewhere around 20 to 30 percent.
“In this scenario, how a small trader or a shopkeeper will be able to survive and overcome some inevitable expenditures including gas and electricity bills, shop rent and wages to his workers etc.,” he asked.
“It is undoubtedly a dire situation not only for the poor segment of society but also for the lower middle class and even the middle-class families who have been silently going through hunger and starvation as they, being white-collar and educated individual, cannot complain or beg for help from anyone,” Chairman BMG said, “Inflation genie has to contained at any cost otherwise, it will kill the common man.”
READ MORE: SITE industrialists reject increase in power tariff, POL prices
He further stated that in addition to severe devaluation of rupee against dollar, rising electricity tariff and petroleum prices, it was also a matter of grave concerns that OGRA okayed a whopping increase of 44 percent in gas tariff for SSGC which would prove to be the last straw on camel’s back as it would result in closure of thousands of industrial units, trigger massive unemployment and give a boost to smuggling through misuse of Afghan Transit Trade and other illegal channels. “In this scenario, the economy will stay in hot waters, crises would worsen further and the situation may lead to setting off serious anarchy all over the country”, he cautioned.
He said that when the exports have picked up pace and recorded an increase of 26 percent while the manufacturing sector has also witnessed an upsurge of 39 percent, the anti-business moves including raising the interest rates, increasing petroleum prices, electricity tariff and now appreciating the gas tariff have been taken which would withhold the progress of Pakistan and shut down many industrial units who would surely face bankruptcy.
READ MORE: Yarn merchants for reducing utility prices to save industry
Muhammad Idrees said the production activities of the manufacturing sector supplying goods at the local markets have also gone down due to rising cost of doing business and the subsequent increase in the cost of finished goods. “Why would a manufacturing unit keep on producing goods at same pace and capacity when the local markets have become almost stagnant”, he said, adding that it was a very alarming situation which would raise the unemployment all over the country as many people would lose jobs due to limited production activities and closure of hundreds of industrial units which cannot bear the all-time high cost of doing business.
As after increasing the petroleum prices and electricity tariff, the IMF’s demands have mostly been fulfilled hence, President KCCI urged the government to take notice of the situation and take steps for providing relief to the industries, shopkeepers and the poor masses otherwise things are going to get really difficult.
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Pakistan’s headline inflation up by 13.8% in May 2022
ISLAMABAD: Pakistan’s headline inflation based on Consumer Price Index (CPI) increased by 13.8 per cent in May 2022 on Year on Year (YoY) basis as compared with 13.4 per cent in the previous month, Pakistan Bureau of Statistics (PBS) said on Wednesday.
The latest inflation number is also higher when compared with 10.9 per cent in May 2021.
READ MORE: Pakistan’s inflation sharply up by 13.4% in April 2022
On month-on-month basis, it increased by 0.4 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and increase of 0.1 per cent in May 2021.
CPI inflation Urban, increased by 12.4 per cent on year-on-year basis in May 2022 as compared to an increase of 12.2 per cent in the previous month and 10.8 per cent in May 2021.
READ MORE: Pakistan’s headline inflation increases by 12.7% in March
On month-on-month basis, it increased by 0.3 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and increase of 0.2 per cent in May 2021.
CPI inflation Rural, increased by 15.9 per cent on year-on-year basis in May 2022 as compared to an increase of 15.1 per cent in the previous month and 10.9 per cent in May 2021. On month-on-month basis, it increased by 0.6 per cent in May 2022 as compared to increase of 1.6 per cent in the previous month and decrease of -0.03 per cent in May 2021.
READ MORE: Food inflation rural increases by 14.6% in February 2022
Sensitive Price Indicator (SPI) inflation on YoY increased by 14.1 per cent in May 2022 as compared to an increase of 14.2 per cent a month earlier and an increase of 19.7 per cent in May 2021.
On MoM basis, it increased by 0.6 per cent in May 2022 as compared to increase of 1.5 per cent a month earlier and increase of 0.8 per cent in May 2021.
READ MORE: Pakistan’s inflation climbs up 24-month high in January
Wholesale Price Index (WPI) inflation on YoY basis increased by 29.6 per cent in May 2022 as compared to an increase of 28.1 per cent a month earlier and an increase of 19.4 per cent in May 2021.
WPI inflation on MoM basis increased by 1.4 per cent in May 2022 as compared to increase of 3.2 per cent a month earlier and increase of 0.3 per cent in corresponding month i.e. May 2021.