Inflation refuses to be tamed, rises to 24.5pc

ISLAMABAD: The Consumer Price Index (CPI) based inflation increased to 24.5 per cent on a year-on-year basis in December 2022 as compared to an increase of 23.8per cent in the previous month and 12.3per cent in December 2021, says the Pakistan Bureau of Statistics (PBS).

The CPI in the first half (July-December) of the current fiscal year on average remained at 25.02per cent compared to 9.81 per cent during the same period of the last fiscal year.

On a month-on-month basis, CPI increased to 0.5 per cent in December 2022 as compared to an increase of 0.8 per cent in the previous month and with no change in December 2021.

CPI inflation Urban increased to 21.6 per cent on a year-on-year basis in December 2022 as compared to an increase of 21.6 per cent in the previous month and 12.7 per cent in December 2021. On a month-on-month basis, it increased to 0.3 per cent in December 2022 as compared to an increase of 0.4 per cent in the previous month and an increase of 0.3 per cent in December 2021.

CPI inflation Rural increased to 28.8 per cent on a year-on-year basis in December 2022 as compared to an increase of 27.2 per cent in the previous month and 11.6 per cent in December 2021. On a month-on-month basis, it increased to 0.7 per cent in December 2022 as compared to an increase of 1.3 per cent in the previous month and a decrease of 0.5 per cent in December 2021.

The Sensitive Price Index (SPI) inflation on YoY increased to 27.8 per cent in December 2022 as compared to an increase of 27.1 per cent a month earlier and an increase of 20.9 per cent in December 2021. On a MoM basis, it increased by 0.2 per cent in December 2022 as compared to an increase of 6.1 per cent a month earlier and a decrease of 0.4 per cent in December 2021.

The Wholesale Price Index (WPI) inflation on YoY basis increased to 27.1 per cent in December 2022 as compared to an increase of 27.7 per cent a month earlier and an increase of 26.2 per cent in December 2021. On a MoM basis, it decreased by 0.7 per cent in December 2022 with no change a month earlier and a decrease of 0.2 per cent in the corresponding month, i.e., December 2021.

Measured by non-food non-energy urban inflation increased to 14.7 per cent on YoY basis in December 2022 as compared to an increase of 14.6 per cent in the previous month and 8.3 per cent in December, 2021.

On MoM basis, it increased by 1.2 per cent in December 2022 as compared to an increase of 0.8 per cent in the previous month, and an increase of 1.1 per cent in the corresponding month of last year, i.e., December 2021.

Measured by non-food non-energy Rural increased to 19 per cent on YoY basis in December 2022 as compared to an increase of 18.5 per cent in the previous month and 8.9 per cent in December 2021. On a MoM basis, it increased by 1.5 per cent in December 2022 as compared to an increase of 2.1 per cent in the previous month, and an increase of 1.1 per cent in the corresponding month of last year, i.e., December 2021.

Measured by 20 per cent weighted trimmed mean Urban increased to 19.4 per cent on YoY basis in December 2022 as compared to 19.8 per cent in the previous month and 10.8 per cent in December 2021. On a MoM basis, it increased by 0.8 per cent in December 2022 as compared to an increase of 0.5 per cent in the previous month and an increase of 1.1 per cent in corresponding month of last year, i.e., December 2021.

Pakistan's CPI-based inflation in November clocks in at 23.8%

Measured by 20 per cent weighted trimmed mean Rural increased to 26.4 per cent on YoY basis in December 2022 as compared to 25.4 per cent in the previous month and by 10.3 per cent in December 2021. On a MoM basis, it increased to 1.5 per cent in December 2022 as compared to an increase of 1.8 per cent in the previous month and an increase of 1 per cent in the corresponding month of last year, i.e., December 2021.

The National Consumer Price Index for December 2022 is increased to 0.49 per cent over November 2022 and increased to 24.47 per cent over the corresponding month of the last year, i.e., December 2021.

The MoM top few commodities which varied from the previous month and contributed to Urban CPI among food which increased include fresh fruits (13.36 per cent), onions (9.99 per cent), eggs (9.71 per cent), wheat (9.45per cent), dry fruits (8.84 per cent), rice (5.85 per cent), chicken (5.43 per cent), beans (3.81 per cent), wheat flour (3.66 per cent), sugar (3.12 per cent), milk fresh (1.51 per cent) and pulse moong (0.32 per cent) and decreased among tomatoes (53.96 per cent), fresh vegetables (24.89 per cent), potatoes (21.33 per cent), besan (3.23 per cent), pulse masoor (2.41 per cent), pulse gram (2.14 per cent), vegetable ghee (2.03 per cent), gram whole (1.9 per cent), cooking oil (1.39 per cent), gur (0.31 per cent) and pulse mash (0.26 per cent).

Among non-food which increased include solid fuel (6.63 per cent), washing soap/ detergents/ matchbox (5.11 per cent), woollen readymade garments (3.06 per cent), woollen cloth (2.03 per cent), stationery (1.91 per cent), marriage hall charges (1.68 per cent) and construction input items (1.51 per cent) and decreased in electricity charges (3.34 per cent) and motor fuel (1.82 per cent).

The YoY top few commodities which varied from corresponding month of previous year among food items which increased include onions (414.98 per cent), tea (63.81 per cent), wheat (57.26 per cent), eggs (54.38 per cent), gram whole (53.18 per cent), rice (46.61 per cent), besan (46.41 per cent), pulse gram (45.2 per cent), chicken (43.76 per cent), pulse moong (42.82 per cent), mustard oil (41.48 per cent), wheat flour (40.58 per cent), pulse mash (38.28 per cent), cooking oil (31.97 per cent), vegetable ghee (30.07 per cent), milk fresh (26 per cent), potatoes (24.72 per cent), dry fruits (36.25 per cent), fresh fruits (33.94 per cent) and pulse masoor (24.61 per cent) and decreased in condiments and spices (8.05 per cent) and gur (2.68 per cent).

Among non-food items which increased include motor fuel (49.45 per cent), washing soap/ detergents/ match box (46.65 per cent), stationery (46.56 per cent), construction input items (30.59 per cent), motor vehicle accessories (29.36 per cent), solid fuel (28.62 per cent), woollen readymade garments (24.12 per cent), household servant (20.46 per cent) and construction wage rates (13.7 per cent) and decreased in electricity charges (2.69 per cent).

MoM top few commodities which varied from previous month and contributed to rural CPI in food which increased in onions (18.06 per cent), eggs (13.68 per cent), wheat (8.97 per cent), dry fruits (8.15 per cent), fresh fruits (6.68 per cent), rice (6.62 per cent), sugar (4.82 per cent), wheat flour (3.26 per cent), fish (2.93 per cent), chicken (1.71 per cent), and fresh milk (0.88 per cent) and decreased in tomatoes (52.15 per cent), fresh vegetables (26.22 per cent), potatoes (21.17 per cent), pulse gram (3.83 per cent), besan (2.28 per cent), masoor (1.99 per cent), gram whole (1.62 per cent), vegetable ghee (1.45 per cent), moong (0.74 per cent), pulse mash (0.38 per cent) and cooking oil (0.17 per cent).

Among non-food items which increased include solid fuel (6.36 per cent), washing soaps, detergents and match box (4.13 per cent), woollen readymade garments (3.7 per cent), household textiles (3.44 per cent), stationery (1.52 per cent), construction wage rates (1.39 per cent) and liquefied hydrocarbons (1.18 per cent) and decreased in electricity charges (3.34 per cent), motor fuels (1.99 per cent) and construction input items (0.13 per cent).

YoY top few commodities which varied from corresponding month of previous year, i.e., December 2021 in food items which increased include onions (463.5 per cent), gram whole (61.24 per cent), wheat (58.62 per cent), tea (58.09 per cent), eggs (57.78 per cent), pulse gram (54.34 per cent), besan (54.08 per cent), rice (48.86 per cent), pulse mash (44.33 per cent), pulse moong (43.27 per cent), chicken (41.35 per cent), mustard oil (41.19 per cent), dry fruits (39.84 per cent), cooking oil (35.22 per cent), cigarettes (34.96 per cent), vegetable ghee (33.89 per cent), milk fresh (29.75 per cent),tomatoes (21.73 per cent), meat (21.61 per cent), fish (18.47 per cent), potatoes (15.34 per cent), sugar (3.84 per cent) and gur (0.33 per cent).

Among non-food items which increase include motor fuels (51.66 per cent), transport services (51.17 per cent), washing soaps, detergents and match box (37.90 per cent), stationery (37.8 per cent), solid fuel (37.66 per cent), drugs and medicines (33.64 per cent), construction input items (33.05 per cent), motor vehicles accessories (29.60 per cent), woollen readymade garments (18.63 per cent) and construction wage rates (11.85 per cent) and decreased in electricity charges (2.69 per cent).

Top few commodities which varied from previous month and contributed to WPI which increased include fresh fruits (21.05 per cent), wheat (12.54 per cent), dried fruits and nuts (10.54 per cent), poultry (9.2 per cent), dry fruits (8.95 per cent), fuel wood in logs (8.51 per cent), eggs (8.46 per cent), rice (7.93 per cent), sorghum/ jowar (7.2 per cent), vegetables and fruit juice (6.5 per cent), wheat flour (6.32 per cent), sugar refined (4.8 per cent), hosiery products (4.44 per cent), maize (4.21 per cent), milk and cream in solid form (3.88 per cent), millet/ bajra (3.86 per cent), paints and varnishes (3.74 per cent), cotton seeds (3.48 per cent), cement (3.46 per cent) and glass sheets (3.11 per cent) and decreased in edible roots / potatoes (26.15 per cent), vegetables (13.2 per cent), kerosene oil (7.82 per cent), furnace oil (7.14 per cent), sugar crops (6.21 per cent), diesel oil (4.68 per cent), concrete mixture (4.57 per cent), bed sheets (4.52 per cent), vegetable ghee (4.25 per cent), other cereal flour (3.77 per cent), electrical energy (2.53 per cent), fertilizers (2.52 per cent), motor spirit (2.3 per cent) and chemicals (1.48 per cent).

YoY top few commodities which varied from previous year and increased include lighting equipments (381.19 per cent), coal not agglomerated (79.42 per cent), glass sheets (62.99 per cent), vegetables (62.17 per cent), wheat (61.08 per cent), diesel oil (60.46 per cent), eggs (58.84 per cent), kerosene oil (56.44 per cent), dried fruits and nuts (55.55 per cent), motor spirit (53.74 per cent), dry fruits (51.61 per cent), maize (47.77 per cent), coffee and tea (46.6 per cent), air conditioners (46.18 per cent), wheat flour (46.12 per cent) and pulses (45.74 per cent) and decreased in spices (36.01 per cent) and fibre crops (2.14 per cent).

Copyright Business Recorder, 2023