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January inflation hits monthly highest since May 1975

January inflation hits monthly highest since May 1975

January inflation hits monthly highest since May 1975

January inflation hits monthly highest since May 1975

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KARACHI: The headline inflation in January 2023 increased 27.6 per cent, which is the highest since May 1975.

Fahad Rauf, head of Equity Research at Ismail Iqbal Securities, said that the inflation in January 2023 is the highest reading since May 1975.

Earlier on Wednesday, the Pakistan Bureau of Statistics (PBS) reported headline inflation based on the Consumer Price Index (CPI) increased 27.6 per cent in January 2023.

It said the CPI inflation general increased to 27.6 per cent on a year-on-year (YoY) basis in January 2023, compared with an increase of 24.5 per cent in the previous month and 13 per cent in January 2022.

On a month-on-month (MoM) basis, it increased 2.9 per cent in January 2023, compared with an increase of 0.5 per cent in the previous month and an increase of 0.4 per cent in January 2022.

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The urban CPI inflation increased to 24.4 per cent on a year-on-year basis in January 2023, compared with an increase of 21.6 per cent in the previous month and 13 per cent in January 2022. On a month-on-month basis, it increased to 2.4 per cent in January 2023, compared with an increase of 0.3 per cent in the previous month and an increase of 0.1 per cent in January 2022.

The rural CPI inflation increased to 32.3 per cent on a year-on-year basis in January 2023, compared with an increase of 28.8 per cent in the previous month and 12.9 per cent in January 2022.

On a month-on-month basis, it increased to 3.6 per cent in January 2023, compared with an increase of 0.7 per cent in the previous month and an increase of 0.9 per cent in January 2022.

The Sensitive Price Indicator (SPI) inflation on YoY increased to 30.5 per cent in January 2023, compared with an increase of 27.8 per cent a month ago and 20.9 per cent in January 2022.

On a MoM basis, it increased 1.3 per cent in January 2023, compared with an increase of 0.2 per cent a month ago and a decrease of 0.8 per cent in January 2022.

Similarly, the Wholesale Price Index (WPI) inflation on a YoY basis increased to 28.5 per cent in January 2023, compared with an increase of 27.1 per cent a month ago and an increase of 24 per cent in January 2022.

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On a MoM basis, it increased 1.8 per cent in January 2023, compared with a decrease of 0.7 per cent a month ago and an increase of 0.6 per cent in the corresponding period of the last year, i.e., January 2022.

Measured by non-food non-energy, the urban inflation increased to 15.4 per cent YoY in January 2023, compared with an increase of 14.7 per cent in the previous month and 8.2 per cent in January 2022.

On a MoM basis, it increased 1.4 per cent in January 2023, compared with an increase of 1.2 per cent in the previous month and an increase of 0.8 per cent in the corresponding period of the last year, i.e., January 2022.

Measured by non-food non-energy, the rural inflation increased to 19.4 per cent YoY in January 2023, compared with an increase of 19 per cent in the previous month and 9 per cent in January 2022.

On a MoM basis, it remained the same, i.e., 1.5 per cent in January 2023, compared with the previous month and an increase of 1.2 per cent in the corresponding period of the last year, i.e., January 2022.

Measured by 20 per cent weighted trimmed mean, the urban inflation increased to 20.9 per cent on YoY basis in January 2023, compared with 19.4 per cent in the previous month and 10.6 per cent in January 2022.

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On a MoM basis, it increased 1.5 per cent in January 2023, compared with an increase of 0.8 per cent in the previous month and an increase of 0.5 per cent in the corresponding month of the last year, i.e., January 2022.

Similarly, measured by 20 per cent weighted trimmed mean, the rural inflation increased to 27.8 per cent on a YoY basis in January 2023, compared with 26.4 per cent in the previous month and 10.9 per cent in January 2022. On a MoM basis, it increased to 2.1 per cent in January 2023, compared with an increase of 1.5 per cent in the previous month and an increase of 1.1 per cent in January 2022.

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