ISLAMABAD: The Consumer Price Index (CPI) inflation increased to 12.6 percent on a year-on-year basis in June 2024 as compared to an increase of 11.8 percent in the previous month and 29.4 percent in June 2023, says Pakistan Bureau of Statistics (PBS).

The country missed the inflation target of 21 per cent set for the fiscal year 2023-24 and stood at 23.41 per cent against 29.18 per cent in 2022-23.

On a month-on-month basis, it increased to 0.5 per cent in June 2024 as compared to a decrease of 3.2 per cent in the previous month and a decrease of 0.3 per cent in June 2023.

Inflation slows to 11.8pc in May, lowest in 30 months

CPI inflation Urban increased to 14.9 per cent on a year-on-year basis in June 2024 as compared to an increase of 14.3 per cent in the previous month and 27.3 per cent in June 2023.

On a month-on-month basis, it increased to 0.6 per cent in June 2024 as compared to a decrease of 2.8 per cent in the previous month and an increase of 0.1 per cent in June 2023.

CPI inflation Rural increased to 9.3 per cent on a year-on-year basis in June 2024 as compared to an increase of 8.2 per cent in the previous month and 32.4 per cent in June 2023. On a month-on-month basis, it increased to 0.3 per cent in June 2024 as compared to a decrease of 3.9 per cent in the previous month and a decrease of 0.8 per cent in June 2023.

The Sensitive Price Index (SPI) inflation on YoY increased to 16.6 per cent in June 2024 as compared to an increase of 15.3 per cent a month earlier and 34.9 per cent in June 2023. On a MoM basis, it increased by 1.33 per cent in June 2024 as compared to a decrease of 4.0 per cent a month earlier and an increase of 0.2 per cent in June 2023.

The Wholesale Price Index (WPI) inflation on a YoY basis increased to 10.6 per cent in June 2024 as compared to an increase of 9.9 per cent a month earlier and an increase of 22.4 per cent in June 2023. On a MoM basis, it increased by 0.4 per cent in June 2024 as compared to a decrease of 2.5 per cent in the previous month and a decrease of 0.3 per cent in the corresponding month of last year i.e. June 2023.

Measured by non-food non-energy Urban increased to 12.2 per cent on a YoY basis in June 2024 as compared to an increase of 12.3 per cent in the previous month and 18.5 per cent in June 2023. On a MoM basis, it increased by 0.6 per cent in June 2024 as compared to an increase of 0.4 per cent in the previous month and an increase of 0.7 per cent in the corresponding month of last year i.e. June 2023.

Measured by non-food non-energy Rural increased to 17.0 per cent on a YoY basis in June 2024 as compared to an increase of 17.0 per cent in the previous month and 25.2 per cent in June 2023. On a MoM basis, it increased by 0.9 per cent in June 2024 as compared to an increase of 0.5 per cent in the previous month and an increase of 0.9 per cent in the corresponding month of last year i.e. June 2023.

Measured by a 20 per cent weighted trimmed mean Urban increased to 10.3 per cent on (YoY) basis in June 2024 as compared to 11.0 per cent in the previous month and 22.9 per cent in June 2023. On a MoM basis, it increased to 0.6 per cent in June 2024 as compared to a decrease of 0.5 per cent in the previous month and an increase of 0.8 per cent in the corresponding month of last year i.e. June 2023.

Measured by a 20 per cent weighted trimmed mean Rural increased to 11.0 per cent on (YoY) basis in June 2024 as compared to 10.6 per cent in the previous month and 29.9 per cent in June 2023. On a MoM basis, it increased to 0.5 per cent in June 2024 as compared to a decrease of 0.9 per cent in the previous month and an increase of 0.1 per cent in the corresponding month of last year i.e. June 2023.

The National Consumer Price Index for June 2024 is increased to 0.46 per cent over May 2024 and increased to 12.57 per cent over the corresponding month of the last year i.e. June 2023.

The Urban Consumer Price Index for June 2024 is increased to 0.58 per cent over May 2024 and increased to 14.89 per cent over the corresponding month of the last year i.e. June 2023.

On a MoM basis, the top few commodities which varied from the previous month and increased in food include tomatoes (38.96 per cent), onions (20.73 per cent), pulse gram (10.16 per cent), chicken (8.32 per cent), potatoes (6.68 per cent), besan (6.41 per cent), butter (6.26 per cent), fresh fruits (4.63 per cent), cigarettes (4.55 per cent), pulse mash (3.23 per cent), gram whole (2.94 per cent), condiments and spices (2.50 per cent), milk products (2.48 per cent), milk fresh (1.80 per cent), beans (1.63 per cent), gur (0.92 per cent), meat (0.81 per cent), fish (0.57 per cent), pulse moong (0.53 per cent), dry fruits (0.24 per cent), milk powder (0.19 per cent), pan prepared (0.18 per cent), ice cream (0.13 per cent), honey (0.05 per cent) and dessert preparation (0.02 per cent) and decreased in wheat flour (8.93 per cent), wheat (7.92 per cent), wheat products (7.75 per cent), eggs (5.12 per cent), rice (4.15 per cent), bakery and confectionary (2.53 per cent), masoor (2.29 per cent), fresh vegetables (2.13 per cent), mustard oil (0.82 per cent), readymade food (0.81 per cent), Nimco(0.67 per cent), sugar (0.41 per cent), beverages (0.17 per cent), cooking oil (0.05 per cent) and vegetable ghee (0.05 per cent).

Among non-food items prices of which increased include electricity charges (8.10 per cent), tailoring (4.59 per cent), transport services (4.36 per cent), textbooks (2.74 per cent), drugs and medicines (2.16 per cent), hospitals services (1.95 per cent), personal effects (1.48 per cent), hosiery (1.46 per cent), medical tests (1.43 per cent), garbage collection (1.05 per cent) and communication apparatus (0.99 per cent) and decreased in liquified hydrocarbons (10.82 per cent), motor fuel (5.44 per cent) and solid fuel (0.39 per cent).

YoY top few commodities which varied from the corresponding month of the previous year i.e. June 2023 among food items which increased include onions (98.40 per cent), tomatoes (68.35 per cent), condiments and spices (42.11 per cent), fresh vegetables (38.08 per cent), fish (30.38 per cent), beans (28.68 per cent), pulse mash (24.32 per cent), dry fruits (21.99 per cent), meat (19.67 per cent), beverages (19.38 per cent), pulse gram (17.54 per cent), milk powder (17.54 per cent), sugar (15.49 per cent), pulse masoor (14.14 per cent) and sweetmeat (14.02 per cent) and decreased in wheat (30.61 per cent), wheat flour (29.06 per cent), chicken (21.16 per cent), cooking oil (16.47 per cent), vegetable ghee (14.25 per cent), fresh fruits (13.24 per cent), mustard oil (11.91 per cent), wheat products (4.78 per cent), rice (2.46 per cent) and tea (1.86 per cent). Among non-food which increased include gas charges (318.74 per cent), electricity charges (66.81 per cent), transport services (35.32 per cent), dental services (31.39 per cent), woolen readymade garments (23.44 per cent), cotton cloth (23.36 per cent), marriage hall charges (22.20 per cent), doctor (MBBS) clinic fee (20.66 per cent), footwear (19.71 per cent) and hospitals services (19.24 per cent) and decreased in liquefied hydrocarbons (3.53 per cent).

The Rural Consumer Price Index for June 2024 is increased to 0.28 per cent over May 2024 and increased to 9.31 per cent over the corresponding month of the last year i.e. June 2023.

On MoM basis, the top few commodities which varied from the previous month in food which increased include tomatoes (25.01 per cent), onions (20.67 per cent), chicken (12.22 per cent), pulse gram (9.45 per cent), potatoes (6.16 per cent), besan (5.13 per cent), pulse mash (2.94 per cent), fresh vegetables (2.86 per cent), pan prepared (2.18 per cent), fresh fruits (2.04 per cent), meat (1.96 per cent), cigarettes (1.94 per cent), gur (1.80 per cent), butter (1.67 per cent), milk fresh (1.34 per cent), milk powder (0.97 per cent), gram whole (0.82 per cent), moong (0.78 per cent), dry fruits (0.76 per cent), condiments and spices (0.74 per cent) and decreased in wheat (12.59 per cent), wheat flour (9.61 per cent), wheat products (5.99 per cent), eggs (4.42 per cent), rice (4.30 per cent), mustard oil (2.54 per cent), bakery and confectionary (2.19 per cent), cooking oil (0.93 per cent), masoor (0.31 per cent), beans (0.17 per cent), sugar (0.16 per cent), vegetable ghee (0.13 per cent) and readymade food (0.09 per cent).

Among non-food items prices of which increased include electricity charges (8.10 per cent), textbooks (7.98 per cent), recreation and culture (2.46 per cent), construction input items (2.19 per cent), transport services (2.04 per cent), hosiery (2.00 per cent), cotton cloth (1.61 per cent), drugs and medicines (1.59 per cent), appliances/articles/products for personal care (1.18 per cent) and education (1.01 per cent) and decreased in motor fuels (5.84 per cent), liquefied hydrocarbons (2.90 per cent), solid fuel (0.64 per cent), motor vehicles accessories (0.31 per cent) and

YoY top few commodities which varied from the corresponding month of the previous year i.e. June 2023 among food which increased include onions (115.27 per cent), tomatoes (58.36 per cent), fresh vegetables (42.95 per cent), beans (35.49 per cent), butter (24.81 per cent), fish (22.90 per cent), beverages (20.45 per cent), meat (20.43 per cent), pulse mash (20.06 per cent), dry fruits (17.77 per cent), sweetmeat (17.28 per cent), sugar (16.79 per cent), pan prepared (16.77 per cent), Nimco(16.50 per cent), pulse gram (15.35 per cent), milk products (14.94 per cent), milk powder (14.73 per cent), masoor (14.70 per cent) and potatoes (14.68 per cent) and decreased in wheat (29.98 per cent), wheat flour (27.75 per cent), chicken (20.43 per cent), cooking oil (16.00 per cent), vegetable ghee (13.35 per cent), fresh fruits (11.63 per cent), mustard oil (7.91 per cent), wheat products (2.81 per cent), eggs (1.17 per cent), gram whole (0.83 per cent) and rice (0.49 per cent).

Among non-food which increased electricity charges (66.81 per cent), transport services (48.48 per cent), woolen readymade garments (38.42 per cent), water supply (31.65 per cent), education (24.42 per cent) and marriage hall charges (23.75 per cent).

The WPI for June 2024 increased to 0.37 per cent over May 2024. It increased to 10.62 per cent over the corresponding month of the last year i.e. June 2023.

Copyright Business Recorder, 2024