CPI clocks in at 28.34% for January

News Image

MG News | February 01, 2024 at 03:45 PM GMT+05:00

0:00

February 01, 2024 (MLN): The consumer price index (CPI) for the month of January 2024 clocked in at 28.34% YoY, compared to 29.7% YoY in the last month and 27.6% YoY in January 2023, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Thursday showed.

On a sequential basis, the CPI has increased by 1.83% compared to an increase of 0.8% in the previous month, and an increase of 2.9% in January 2023.

The inflation figures came in hotter than MG Research's estimate of 27.2% YoY.

Accordingly, this takes the average yearly inflation of 7MFY24 to 28.7% YoY compared to 25.4% YoY in 7MFY23.

In January 2024, the Urban Consumer Price Index (CPI) inflation increased to 30.2% on a YoY basis as compared to an increase of 30.9% in the previous month and 24.4% in January 2023.

Similarly, it increased to 1.8% MoM in January 2024 as compared to an increase of 0.7% in the previous month and an increase of 2.4% in January 2023.

Meanwhile, the Rural CPI inflation rose to 25.7% YoY in January 2024 as compared to an increase of 27.9% in the previous month and 32.3% in January 2023.

On a month-on-month basis, it increased to 1.9% in January 2024 as compared to an increase of 1.0% in the previous month and an increase of 3.6% in January 2023.

The Sensitive Price Index (SPI) inflation on a YoY basis, increased to 36.2% in January 2024 as compared to an increase of 35.3% a month earlier and 30.5% in January 2023.

On an MoM basis, it increased by 2% in January 2024 as compared to an increase of 3.8% a month earlier and an increase of 1.3% in January 2023.

Furthermore, the Wholesale Price Index (WPI) inflation on a YoY basis increased to 27% in January 2024 as compared to an increase of 27.3% a month earlier and an increase of 28.5% in January 2023.

On a sequential basis, it increased by 1.5% in January 2024 as no change was observed a month earlier and an increase of 1.8% in the corresponding month of last year i.e. January 2023.

With the CPI-based inflation rate at 28.34% and the policy rate at 22%, the real interest now stands at -6.34%.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 136,338.24
35.47M
0.29%
398.37
ALLSHR 84,786.34
69.25M
0.22%
185.96
KSE30 41,511.58
7.98M
0.33%
137.90
KMI30 190,818.23
6.93M
-0.13%
-251.74
KMIALLSHR 55,729.84
29.11M
-0.01%
-8.23
BKTi 38,346.66
2.16M
-0.37%
-143.09
OGTi 27,792.81
0.34M
0.02%
4.66
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,705.00 118,465.00
117,255.00
965.00
0.83%
BRENT CRUDE 68.86 69.09
68.81
0.15
0.22%
RICHARDS BAY COAL MONTHLY 96.50 96.50
96.50
0.50
0.52%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.25
-2.05
-1.92%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.77 67.00
66.73
0.25
0.38%
SUGAR #11 WORLD 16.56 16.61
16.25
0.26
1.60%

Chart of the Day


Latest News
July 16, 2025 at 09:47 AM GMT+05:00

Asia markets mixed amid U.S.-Indonesia trade deal


July 16, 2025 at 09:32 AM GMT+05:00

PTCL hit by Supreme Court ruling on pension liabilities


July 16, 2025 at 06:18 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 15, 2025 at 05:46 PM GMT+05:00

Labubu Mania drives Pop Mart’s profit surge



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg