Pakistan’s Consumer Price Index (CPI) based inflation increased to 36.4 percent on a year-on-year basis in April 2023 compared to an increase of 35.4 percent in the previous month and 13.4 percent in April 2022, says Pakistan Bureau of Statistics (PBS).
According to Arif Habib Limited, this is the highest ever inflation since the available data i.e. July 1965, beating the previous all-time high of 35.4 recorded in March 2023. At 36.4 percent, annual inflation in Pakistan is now higher than the key inflation rate of Sri Lanka which eased to 35.3 percent in April.
On a month-on-month basis, CPI increased to 2.4 percent in April 2023 as compared to an increase of 3.7 percent in the previous month and an increase of 1.6 percent in April 2022.
Food inflation for April 2023 came in at 49.5 percent (average of Rural and Urban) versus 16.7 percent recorded in April 2022. Average CPI inflation for Jul-Apr 2023 (FY23TD) stood at 28.2 percent versus 11.0 percent in the similar period last year.
CPI inflation Urban, increased to 33.5 percent on a year-on-year basis in April 2023 as compared to an increase of 33.0 percent in the previous month and 12.2 percent in April 2022. On a month-on-month basis, it increased to 2.0 percent in April 2023 as compared to an increase of 3.9 percent in the previous month and an increase of 1.6 percent in April 2022.
CPI inflation Rural, increased to 40.7 percent on a year-on-year basis in April 2023 as compared to an increase of 38.9 percent in the previous month and 15.1 percent in April 2022. On a month-on-month basis, it increased to 3.0 percent in April 2023 as compared to an increase of 3.5 percent in the previous month and an increase of 1.6 percent in April 2022.
The Sensitive Price Index (SPI) inflation on YoY increased to 42.1 percent in April 2023 as compared to an increase of 40.4 percent a month earlier and 14.2 percent in April 2022. On MoM basis, it increased by 2.7 percent in April 2023 as compared to an increase of 5.8 percent a month earlier and an increase of 1.5 percent in April 2022.
The Wholesale Price Index (WPI) inflation on YoY basis increased to 32.8 percent in April 2023 as compared to an increase of 37.5 percent a month earlier and an increase of 28.1 percent in April 2022. On MoM basis, it decreased by 0.4 percent in April 2023 as compared to an increase of 4.7 percent a month earlier and an increase of 3.2 percent in the corresponding month of last year.
Core inflation (NFNE)
Measured by non-food non-energy Urban increased to 19.5 percent on (YoY) basis in April 2023 as compared to an increase of 18.6 percent in the previous month and 9.1 percent in April 2022. On MoM basis, it increased by 1.8 percent in April 2023 as compared to an increase of 2.5 percent in the previous month, and an increase of 1.1 percent in the corresponding month of last year.
Measured by non-food non-energy Rural increased to 24.9 percent on (YoY) basis in April 2023 as compared to an increase of 23.1 percent in the previous month and 10.9 percent in April 2022. On MoM basis, it increased by 2.7 percent in April 2023 as compared to an increase of 2.4 percent in the previous month, and an increase of 1.2 percent in the corresponding month of last year.
Core inflation (Trimmed)
Measured by 20 percent weighted trimmed mean Urban increased to 28.6 percent on (YoY) basis in April 2023 as compared to 28.7 percent in the previous month and 10.5 percent in April 2022. On MoM basis, it increased by 1.5 percent in April 2023 as compared to an increase of 2.7 percent in the previous month and an increase of 0.9 percent in April 2022.
Measured by 20 percent weighted trimmed mean Rural increased to 37.3 percent on (YoY) basis in April 2023 as compared to 35.0 percent in the previous month and 12.8 percent in April 2022. On MoM basis, it increased to 2.0 percent in April 2023 as compared to an increase of 2.9 percent in the previous month and an increase of 0.9 percent in April 2022.
