Pakistan’s Consumer Price Index (CPI) based inflation increased to 12.6 percent year-on-year (YoY) in June 2024 compared to an increase of 11.8 percent in the previous month and 29.4 percent in June 2023. On a month-on-month basis, it increased to 0.5 percent in June 2024 as compared to a decrease of 3.2 percent in the previous month and a decrease of 0.3 percent in June 2023.
The country missed the inflation target of 21 percent set for the fiscal year 2023-24 and 23.41 percent against 29.18 percent in 202-23.
CPI inflation Urban increased to 14.9 percent on a year-on-year basis in June 2024 as compared to an increase of 14.3 percent in the previous month and 27.3 percent in June 2023. On a month-on-month basis, it increased to 0.6 percent in June 2024 as compared to a decrease of 2.8 percent in the previous month and an increase of 0.1 percent in June 2023.
CPI inflation Rural increased to 9.3 percent on a year-on-year basis in June 2024 as compared to an increase of 8.2 percent in the previous month and 32.4 percent in June 2023. On a month-on-month basis, it increased to 0.3 percent in June 2024 as compared to a decrease of 3.9 percent in the previous month and a decrease of 0.8 percent in June 2023.
SPI inflation on YoY increased to 16.6 percent in June 2024 as compared to an increase of 15.3 percent a month earlier and 34.9 percent in June 2023. On an MoM basis, it increased by 1.33 percent in June 2024 as compared to a decrease of 4.0 percent a month earlier and an increase of 0.2 percent in June 2023.
WPI inflation on a YoY basis increased to 10.6 percent in June 2024 as compared to an increase of 9.9 percent a month earlier and an increase of 22.4 percent in June 2023. On an MoM basis, it increased by 0.4 percent in June 2024 as compared to a decrease of 2.5 percent in the previous month and decrease of 0.3 percent in the corresponding month of last year i.e. June 2023.
Core Inflation (NFNE)
Measured by non-food non-energy Urban increased to 12.2 percent on a YoY basis in June 2024 as compared to an increase of 12.3 percent in the previous month and 18.5 percent in June 2023. On an MoM basis, it increased by 0.6 percent in June 2024 as compared to an increase of 0.4 percent in the previous month and an increase of 0.7 percent in the corresponding month of last year i.e. June 2023.
Measured by non-food non-energy Rural increased to 17.0 percent on a YoY basis in June 2024 as compared to an increase of 17.0 percent in the previous month and 25.2 percent in June 2023. On an MoM basis, it increased by 0.9 percent in June 2024 as compared to an increase of 0.5 percent in the previous month and an increase of 0.9 percent in the corresponding month of last year i.e. June 2023.
Core Inflation (Trimmed)
Measured by a 20 percent weighted trimmed mean Urban increased to 10.3 percent on a YoY basis in June 2024 as compared to 11.0 percent in the previous month and 22.9 percent in June 2023. On an MoM basis, it increased to 0.6 percent in June 2024 as compared to a decrease of 0.5 percent in the previous month and an increase of 0.8 percent in the corresponding month of last year i.e. June 2023.
Measured by 20 percent weighted trimmed mean Rural increased to 11.0 percent on a YoY basis in June 2024 as compared to 10.6 percent in the previous month and 29.9 percent in June 2023. On an MoM basis, it increased to 0.5 percent in June 2024 as compared to a decrease of 0.9 percent in the previous month and an increase of 0.1 percent in the corresponding month of last year i.e. June 2023.
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