Inflation in Pakistan Spikes to 29.2% in November

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Inflation, measured by the Consumer Price Index (CPI), surged by 29.2 percent year-on-year in November 2023 as compared to an increase of 26.8 percent in the previous month and 23.8 percent in November 2022, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.

This takes 5MFY24 average inflation to 28.62 percent compared to 25.14 percent in 5MFY23. On month-on-month basis, it increased to 2.7 percent in November 2023 as compared to an increase of 1.0 percent in the previous month and an increase of 0.8 percent in November 2022.

Courtesy: Ismail Iqbal Securities

CPI inflation Urban, increased to 30.4 percent on year-on-year basis in November 2023 as compared to an increase of 25.5 percent in the previous month and 21.6 percent in November 2022. On month-on-month basis, it increased to 4.3 percent in November 2023 as compared to an increase of 1.1 percent in the previous month and an increase of 0.4 percent in November 2022.

CPI inflation Rural, increased to 27.5 percent on year-on-year basis in November 2023 as compared to an increase of 28.7 percent in the previous month and 27.2 percent in November 2022. On month-on-month basis, it increased to 0.4 percent in November 2023 as compared to an increase of 0.9 percent in the previous month and an increase of 1.3 percent in November 2022.

Core inflation (NFNE)

Measured by non-food non-energy Urban increased to 18.6 percent on (YoY) basis in November 2023 as compared to an increase of 18.5 percent in the previous month and 14.6 percent in November 2022. On (MoM) basis, it increased by 0.9 percent in November 2023 as compared to an increase of 1.2 percent in previous month, and an increase of 0.8 percent in corresponding month of last year i.e. November, 2022.

Measured by non-food non-energy Rural increased to 25.9 percent on (YoY) basis in November 2023 as compared to an increase of 26.7 percent in the previous month and 18.5 percent in November 2022. On (MoM) basis, it increased by 1.4 percent in November 2023 as compared to an increase of 1.0 percent in previous month, and an increase of 2.1 percent in corresponding month of last year i.e. November 2022.

Core inflation (Trimmed)

Measured by 20 percent weighted trimmed mean Urban increased to 22.9 percent on (YoY) basis in November 2023 as compared to 24.6 percent in the previous month and 19.8 percent in November 2022. On (MoM) basis, it increased by 0.1 percent in November 2023 as compared to an increase of 0.6 percent in the previous month and an increase of 0.5 percent in corresponding month of last year i.e. November 2022.

Measured by 20 percent weighted trimmed mean Rural increased to 27.9 percent on (YoY) basis in November 2023 as compared to 30.4 percent in the previous month and 25.4 percent in November 2022. On (MoM) basis, it increased to 0.5 percent in November 2023 as compared to an increase of 0.7 percent in the previous month and an increase of 1.8 percent in corresponding month of last year i.e. November 2022.



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