Pakistan’s Consumer Price Index (CPI) slowed to 26.89 percent in October from 26.6 percent a year earlier and 31.4 percent in the previous month, according to data released by the Pakistan Bureau of Statistics on Wednesday.

On a month-on-month basis, it increased to 1.1 percent in October 2023 as compared to an increase of 2.0 percent in the previous month and an increase of 4.7 percent in October 2022

Notably, inflation eased in October as authorities slashed fuel prices and cracked down on illegal forex trade.

CPI National for the period July-October (2023-24) increased to 28.48 percent over Jul-Oct (2022-23). The Urban CPI recorded an increase of 26.59 percent while Rural CPI recorded an increase of 31.21 percent.

CPI inflation Urban increased to 25.5 percent on a year-on-year basis in October 2023 as compared to an increase of 29.7 percent in the previous month and 24.6 percent in October 2022. On a month-on-month basis, it increased to 1.1 percent in October 2023 as compared to an increase of 1.7 percent in the previous month and an increase of 4.5 percent in October 2022.

CPI inflation Rural increased to 28.9 percent on a year-on-year basis in October 2023 as compared to an increase of 33.9 percent in the previous month and 29.5 percent in October 2022. On a month-on-month basis, it increased to 1.1 percent in October 2023 as compared to an increase of 2.5 percent in the previous month and an increase of 5.0 percent in October 2022.

SPI inflation on YoY increased to 34.2 percent in October 2023 as compared to an increase of 32.0 percent a month earlier and 24.0 percent in October 2022. On an MoM basis, it increased by 0.2 percent in October 2023 as compared to an increase of 1.7 percent a month earlier and a decrease of 1.5 percent in October 2022.

WPI inflation on a YoY basis increased to 24.6 percent in October 2023 as compared to an increase of 26.4 percent a month earlier and an increase of 32.6 percent in October 2022. On an MoM basis, it decreased by 1.9 percent in October 2023 as compared to an increase of 3.1 percent a month earlier and a decrease of 0.5 percent in the corresponding month of last year i.e. October 2022.

Core Inflation (NFNE)

Measured by non-food non-energy Urban increased to 18.5 percent on a YoY basis in October 2023 as compared to an increase of 18.6 percent in the previous month and 14.9 percent in October 2022. On an MoM basis, it increased by 1.2 percent in October 2023 as compared to an increase of 1.0 percent in the previous month, and an increase of 1.3 percent in the corresponding month of last year i.e. October 2022.

Measured by non-food non-energy Rural increased to 26.7 percent on a YoY basis in October 2023 as compared to an increase of 27.3 percent in the previous month and 18.2 percent in October 2022. On an MoM basis, it increased by 1.0 percent in October 2023 as compared to an increase of 2.6 percent in the previous month, and an increase of 1.5 percent in the corresponding month of last year i.e. October 2022.

Core Inflation (Trimmed)

Measured by a 20 percent weighted trimmed mean Urban increased to 24.6 percent on a YoY basis in October 2023 as compared to 25.0 percent in the previous month and 22.0 percent in October 2022. On an MoM basis, it increased by 0.6 percent in October 2023 as compared to an increase of 1.1 percent in the previous month and an increase of 1.9 percent in the corresponding month of last year i.e. October 2022.

Measured by a 20 percent weighted trimmed mean Rural increased to 30.7 percent on (YoY) basis in October 2023 as compared to 33.3 percent in the previous month and 26.7 percent in October 2022. On an MoM basis, it increased to 0.8 percent in October 2023 as compared to an increase of 1.7 percent in the previous month and an increase of 2.7 percent in the corresponding month of last year i.e. October 2022.

Source: Pro Pakistani