Pakistan’s Consumer Price Index (CPI) based inflation increased to 31.4 percent year-on-year in September 2023 as compared to an increase of 27.4 percent in the previous month and 23.2 percent in September 2022, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
On a month-on-month basis, it increased to 2 percent in September 2023 as compared to an increase of 1.7 percent in the previous month and a decrease of 1.2 percent in September 2022. Average inflation in the first quarter stood at 29.04 percent versus 25.11 percent in the same period last year.
Just In: Consumer Price Index (CPI) for Sep'23 has clocked-in at 31.4% (2% MoM), as opposed to 27.4% in Aug'23 and 23.2% in Sep'22. pic.twitter.com/kPeYEAKAQo
— Ismail Iqbal Securities (@iispl_sec) October 2, 2023
CPI inflation Urban, increased to 29.7 percent on a year-on-year basis in September 2023 as compared to an increase of 25.0 percent in the previous month and 21.2 percent in September 2022. On a month-on-month basis, it increased to 1.7 percent in September 2023 as compared to an increase of 1.6 percent in the previous month and a decrease of 2.1 percent in September 2022.
CPI inflation in Rural increased to 33.9 percent on a year-on-year basis in September 2023 as compared to an increase of 30.9 percent in the previous month and 26.1 percent in September 2022. On a month-on-month basis, it increased to 2.5 percent in September 2023 as compared to an increase of 1.9 percent in the previous month and an increase of 0.2 percent in September 2022.
SPI inflation on YoY increased to 32.0 percent in September 2023 as compared to an increase of 27.9 percent a month earlier and 28.6 percent in September 2022. On an MoM basis, it increased by 1.7 percent in September 2023 as compared to an increase of 4.1 percent a month earlier and a decrease of 1.4 percent in September 2022.
WPI inflation on a YoY basis increased to 26.4 percent in September 2023 as compared to an increase of 24.3 percent a month earlier and an increase of 38.9 percent in September 2022. On an MoM basis, it increased by 3.1 percent in September 2023 as compared to an increase of 4.2 percent a month earlier and an increase of 1.4 percent in the corresponding month of last year i.e. September 2022.
Core Inflation
Measured by non-food non-energy Urban increased to 18.6 percent on a YoY basis in September 2023 as compared to an increase of 18.4 percent in the previous month and 14.4 percent in September 2022. On an MoM basis, it increased by 1.0 percent in September 2023 as compared to an increase of 1.8 percent in the previous month, and an increase of 0.9 percent in the corresponding month of last year i.e. September 2022.
Measured by non-food non-energy Rural increased to 27.3 percent on a YoY basis in September 2023 as compared to an increase of 25.9 percent in the previous month and 17.6 percent in September 2022. On an MoM basis, it increased by 2.6 percent in September 2023 as compared to an increase of 2.8 percent in the previous month, and an increase of 1.4 percent in the corresponding month of last year i.e. September 2022.
Core Inflation
Measured by a 20 percent weighted trimmed mean Urban increased to 25.0 percent YoY in September 2023 as compared to 23.0 percent in the previous month and 19.5 percent in September 2022. On an MoM basis, it increased by 1.1 percent in September 2023 as compared to an increase of 1.5 percent in the previous month and an increase of 1.6 percent in the corresponding month of last year i.e. September 2022.
Measured by a 20 percent weighted trimmed mean Rural increased to 33.3 percent on a YoY basis in September 2023 as compared to 30.5 percent in the previous month and 24.4 percent in September 2022. On an MoM basis, it increased to 1.7 percent in September 2023 as compared to an increase of 1.4 percent in the previous month and an increase of 2.5 percent in the corresponding month of last year i.e. September 2022.
With the claim of best performing currency technically the inflation trend should be towards decline, or the claims were false?