ISLAMABAD: The Consumer Price Index (CPI)-based inflation increased to 27.4 percent on a year-on-year basis in August 2023 as compared to an increase of 28.3 percent in the previous month and 27.3 percent in August 2022, says Pakistan Bureau of Statistics (PBS).

This takes two months of fiscal year 2024 average inflation to 27.84 per cent compared to 26.10 per cent during the same period of fiscal year 2023.

On a month-on-month basis, it increased to 1.7 per cent in August 2023 as compared to an increase of 3.5 per cent in the previous month and an increase of 2.4 per cent in August 2022.

CPI inflation Urban increased to 25 per cent on a year-on-year basis in August 2023 as compared to an increase of 26.3 per cent in the previous month and 26.2 per cent in August 2022.

On a month-on-month basis, it increased to 1.6 per cent in August 2023 as compared to an increase of 3.6 per cent in the previous month and an increase of 2.6 per cent in August 2022.

CPI inflation Rural increased to 30.9 per cent on a year-on-year basis in August 2023 as compared to an increase of 31.3 per cent in the previous month and 28.8 per cent in August 2022. On a month-on-month basis, it increased to 1.9 per cent in August 2023 as compared to an increase of 3.3 per cent in the previous month and an increase of 2.2 per cent in August 2022.

The Sensitive Price Index (SPI) inflation on YoY increased to 27.9 per cent in August 2023 as compared to an increase of 29.3 per cent a month earlier and 34 per cent in August 2022. On a MoM basis, it increased by 4.1 per cent in August 2023 as compared to an increase of 2.8 per cent a month earlier and an increase of 5.2 per cent in August 2022.

The Wholesale Price Index (WPI) inflation on a YoY basis increased to 24.3 per cent in August 2023 as compared to an increase of 23.1 per cent a month earlier and an increase of 41.2 per cent in August 2022. On a MoM basis, it increased by 4.2 per cent in August 2023 as compared to an increase of 2.5 per cent a month earlier and an increase of 3.1 per cent in the corresponding month of last year i.e. August 2022.

Measured by non-food non-energy Urban increased to 18.4 per cent on a YoY basis in August 2023 as compared to an increase of 18.4 per cent in the previous month and 13.8 per cent in August 2022. On a MoM basis, it increased by 1.8 per cent in August 2023 as compared to an increase of 1.2 per cent in the previous month, and an increase of 1.8 per cent in the corresponding month of last year i.e. August 2022.

Measured by non-food non-energy Rural increased to 25.9 per cent on a YoY basis in August 2023 as compared to an increase of 24.6 per cent in the previous month and 16.5 per cent in August 2022. On aMoM basis, it increased by 2.8 per cent in August 2023 as compared to an increase of 1.2 per cent in the previous month, and an increase of 1.8 per cent in the corresponding month of last year i.e. August 2022.

Measured by 20 per cent weighted trimmed mean Urban increased to 23.0 per cent on (YoY) basis in August 2023 as compared to 21.7 per cent in the previous month and 21.4 per cent in August 2022. On a MoM basis, it increased by 1.5 per cent in August 2023 as compared to an increase of 1.9 per cent in the previous month and an increase of 1.7 per cent in the corresponding month of last year i.e. August 2022.

Measured by 20 per cent weighted trimmed mean Rural increased to 30.5 per cent on (YoY) basis in August 2023 as compared to 28.7 per cent in the previous month and 23.8 per cent in August 2022. On a MoM basis, it increased to 1.4 per cent in August 2023 as compared to an increase of 2.4 per cent in the previous month and an increase of 1.8 per cent in the corresponding month of last year i.e. August 2022.

The National Consumer Price Index for August 2023 is increased to 1.72 per cent over July 2023 and increased to 27.38 per cent over the corresponding month of the last year i.e. August 2022. The Urban Consumer Price Index for August 2023 is increased to 1.60 per cent over July 2023 and increased to 24.98 per cent over the corresponding month of the last year i.e. August 2022.

On a MOM basis, top few commodities which varied from the previous month in food which increased include tomatoes (75.35 per cent), condiments and spices (16.98 per cent), eggs (16.26 per cent), sugar (9.03 per cent), beverages (6.18 per cent), pulse mash (5.56 per cent), milk powder (5.52 per cent), wheat products (5.05 per cent), potatoes (4.38 per cent), rice (2.68 per cent), moong (2.26 per cent), pulse gram (2.22 per cent), milk fresh (1.57 per cent) and meat (1.42 per cent) and decreased in fresh fruits (24.70 per cent), fresh vegetables (17.18 per cent), chicken (6.26 per cent), onions (4.75 per cent), cooking oil (4.29 per cent), mustard oil (2.70 per cent), vegetable ghee (2.67 per cent), wheat flour (0.57 per cent) and wheat (0.23 per cent). Among non-food which increased include liquefied hydrocarbons (14.64 per cent), water supply (11.68 per cent), motor fuel (8.29 per cent), mechanical services (5.42 per cent), transport services (3.95 per cent), solid fuel (3.28 per cent), drugs and medicines (3.15 per cent), construction wage rates (2.01 per cent), electricity charges (1.37 per cent), construction input items (0.69 per cent), household servant (0.41 per cent), and postal services (0.21 per cent).

Copyright Business Recorder, 2023