The Consumer Price Index (CPI) based inflation increased to 29.7 percent on a year-on-year basis in December 2023 as compared to an increase of 29.2 percent in the previous month and 24.5 percent in December 2022.
The average CPI during the first half of the current fiscal year 2023-24 at 28.79 percent compared to 25.02 percent during the same period of the last fiscal year. On a month-on-month basis, it increased to 0.8 percent in December 2023 as compared to an increase of 2.7 percent in the previous month and an increase of 0.5 percent in December 2022.
CPI for the month of Dec’23 clocked-in at 29.7% YoY (+0.8% MoM) compared to 29.2% in Nov-23. This takes 1HFY24 average inflation to 28.8% (1HFY23: 25.0%).@PBSofficialpak @StateBank_Pak #PBS #Inflation #Pakistan #Economy #AHL pic.twitter.com/8Q27Njoyt3
— Arif Habib Limited (@ArifHabibLtd) January 1, 2024
CPI inflation Urban increased to 30.9 percent on a year-on-year basis in December 2023 as compared to an increase of 30.4 percent in the previous month and 21.6 percent in December 2022. On a month-on-month basis, it increased to 0.7 percent in December 2023 as compared to an increase of 4.3 percent in the previous month and an increase of 0.3 percent in December 2022.
CPI inflation Rural increased to 27.9 percent on a year-on-year basis in December 2023 as compared to an increase of 27.5 percent in the previous month and 28.8 percent in December 2022. On a month-on-month basis, it increased to 1.0 percent in December 2023 as compared to an increase of 0.4 percent in the previous month and an increase of 0.7 percent in December 2022.
The Sensitive Price Index (SPI) inflation on YoY increased to 35.3 percent in December 2023 as compared to an increase of 30.6 percent a month earlier and 27.8 percent in December 2022. On an MoM basis, it increased by 3.8 percent in December 2023 as compared to an increase of 3.3 percent a month earlier and an increase of 0.2 percent in December 2022.
The Wholesale Price Index (WPI) inflation on a YoY basis increased to 27.3 percent in December 2023 as compared to an increase of 26.4 percent a month earlier and an increase of 27.1 percent in December 2022. On an MoM basis, no change in December 2023 as compared to an increase of 1.4 percent a month earlier and a decrease of 0.7 in the corresponding month of last year i.e. December 2022.
Core Inflation (NFNE)
Measured by non-food non-energy Urban increased to 18.2 percent on a YoY basis in December 2023 as compared to an increase of 18.6 percent in the previous month and 14.7 percent in December 2022. On an MoM basis, it increased by 0.8 percent in December 2023 as compared to an increase of 0.9 percent in the previous month, and an increase of 1.2 percent in the corresponding month of last year i.e. December 2022.
Measured by non-food non-energy Rural increased to 25.1 percent on a YoY basis in December 2023 as compared to an increase of 25.9 percent in the previous month and 19.0 percent in December 2022. On an MoM basis, it increased by 0.9 percent in December 2023 as compared to an increase of 1.4 percent in the previous month, and an increase of 1.5 percent in the corresponding month of last year i.e. December 2022.
Core Inflation (Trimmed)
Measured by a 20 percent weighted trimmed mean Urban increased to 23.3 percent on a YoY basis in December 2023 as compared to 22.9 percent in the previous month and 19.4 percent in December 2022. On an MoM basis, it increased by 0.3 percent in December 2023 as compared to an increase of 0.1 percent in the previous month and an increase of 0.8 percent in corresponding month of last year i.e. December 2022.
Measured by a 20 percent weighted trimmed mean Rural increased to 28.0 percent on a YoY basis in December 2023 as compared to 27.9 percent in the previous month and 26.4 percent in December 2022. On an MoM basis, it increased to 0.7 percent in December 2023 as compared to an increase of 0.5 percent in the previous month and an increase of 1.5 percent in the corresponding month of last year i.e. December 2022.
