Inflation in Pakistan further slashes to 11.1pc in July, claims PBS

ISLAMABAD: The Consumer Price Index (CPI)-based inflation decelerated to 11.1 percent during the month of July 2024 as compared to 12.6 percent recorded during June 2024, Pakistan Bureau of Statistics (PBS) reported on Thursday.

According to PBS data, the CPI based inflation during the same month of last year (July 2023) was recorded at 28.3%.

On month-on-month basis, it increased to 2.1% in July 2024 as compared to an increase of 0.5% in the previous month and an increase of 3.5% in July 2023.

According to data, CPI inflation Urban, increased to 13.2% on year-on-year basis in July 2024 as compared to an increase of 14.9% in the previous month and 26.3% in July 2023. On month-on-month basis, it increased to 2.0% in July 2024 as compared to an increase of 0.6% in the previous month and an increase of 3.6% in July 2023.

CPI inflation Rural, increased to 8.1% on year-on-year basis in July 2024 as compared to an increase of 9.3% in the previous month and 31.3% in July 2023. On month-on-month basis, it increased to 2.2% in July 2024 as compared to an increase of 0.3% in the previous month and an increase of 3.3% in July 2023.

The Sensitive Price Indicator (SPI) inflation on YoY increased to 15.7% in July 2024 as compared to an increase of 16.6% a month earlier and 29.3% in July 2023. On MoM basis, it increased by 2.0% in July 2024 as compared to an increase of 1.3% a month earlier and an increase of 2.8% in July 2023.

The Wholesale Price Index (WPI) inflation on YoY basis increased to 10.4% in July 2024 as compared to an increase of 10.6% a month earlier and an increase of 23.1% in July 2023. On MoM basis, it increased by 2.3% in July 2024 as compare to an increase of 0.4% in the previous month and an increase of 2.5% in corresponding month of last year i.e. July 2023.

The urban core inflation, measured by non-food non-energy, increased to 16.9% on (YoY) basis in July 2024 as compared to an increase of 17.0% in the previous month and 24.6% in July 2023. On (MoM) basis, it increased by 1.1% in July 2024 as compared to an increase of 0.9% in previous month and an increase of 1.2% in corresponding month of last year i.e. July 2023.

The rural core inflation, measured by non-food non-energy increased to 16.9% on (YoY) basis in July 2024 as compared to an increase of 17.0% in the previous month and 24.6% in July 2023. On (MoM) basis, it increased by 1.1% in July 2024 as compared to an increase of 0.9% in previous month and an increase of 1.2% in corresponding month of last year i.e. July 2023.