Pakistan’s CPI rises to 15% YoY in mid-October

Pakistan’s Consumer Price Index (CPI) in mid-October clocked at 15.2 percent Year-on-Year (YoY), data from the Pakistan Bureau Statistics (PBS) showed on Friday. 

The development came simultaneously with the annual report of the State Bank of Pakistan for FY24, stating that the economy showed improvement in the macroeconomic indicator, and inflation rates dropped significantly, especially in the second half of the fiscal year.

“Strict monetary policies, fiscal consolidation, and easing global commodity prices,” it stated.

However, the Sensitive Price Index (SPI) for the week ended on October 17 depicted an increase in inflation by 0.29 percent week-on-week.

The weekly report has been made after assessing the price movement of essential commodities at shorter intervals. SPI comprised 51 essential items collected from 50 markets in the 17 cities.

Major increased WoW has been seen in the prices food, including Tomatoes (26.24%), Pulse Moong (9.86%), Pulse Gram (3.15%), Wheat Flour (2.10%), Diesel (2.01%), LPG (1.50%), Garlic (1.31%), Chicken (0.96%), Eggs (0.68%), Mustard Oil (0.65%) and Firewood (0.35%).

On year-on-year trend depicted an increase in prices of Gas (570%), Pulse Gram (80.85%), Onions (51.32%), Tomatoes (36.81%), Chicken (34.53%), Pulse Moong (33.23%), Powdered Milk (25.37%), Beef (23.62%), and Cooked Daal (14.41%).

Earlier, the CPI showed slight ease in the last week.