January 02, 2022 (MLN): The consumer price index (CPI) for the month of December 2022 increased by 24.5% YoY, compared to an increase of 23.8% YoY in the previous month and 12.3% in December 2021. On monthly basis, it increased to 0.5% MoM, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Monday showed.
The estimates are largely in line with the market expectations which were between 21.30% YoY – 25.3% YoY with an average estimate of 24.17% YoY.
High tides of inflation have brought the 6MFY23 average CPI number to 25.04% YoY as against 9.8% YoY in the corresponding period last year.
The YoY increase in inflation is primarily attributed to the surging prices of Onions (414.98%), Tea (63.81%), Wheat (57.26%), Eggs (54.38%), Gram Whole (53.18%), Rice (46.61%), Besan (46.41%), Pulse Gram (45.2%), and Chicken (43.76%).
During the review month, the CPI in urban areas jump to 21.6% YoY as compared to an increase of 21.6% in the previous month and 12.7% in December 2021.
On a month-on-month basis, it increased to 0.3% in December as compared to an increase of 0.4% in the previous month and an increase of 0.3% in Dec 2021.
Similarly, people living in rural areas also observed the burnt of rising prices as the inflation in rural areas hiked to 28.8% YoY in Dec 2022 as compared to an increase of 27.2% in the previous month and 11.6% in Dec 2021.
