CPI for February stands at 31.5% YoY

March 01, 2023 (MLN): The consumer price index (CPI) for the month of February 2023 increased by 31.5% YoY, compared to 27.6% YoY in the last month and 12.24% YoY in February 2022, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Wednesday showed.

 On monthly basis, it increased to 4.3% MoM. 

This has brought 8MFY23 average inflation to 26.2% as against 10.49%in the corresponding period last year.

The estimates have exceeded the market expectations which were between 29% YoY – 30.7% YoY with an average estimate of 26% YoY.

The urban CPI inflation increased to 28.8% on a year-on-year basis, compared to an increase of 24.4% in the previous month and 11.5% in February 2022. Similarly, the rural CPI inflation increased to 35.6% on a year-on-year basis, compared to an increase of 32.3% in the previous month and 13.3% in February 2022.

On a month-on-month basis, urban CPI inflation increased to 4.5% in February 2023, compared to an increase of 2.4% in the previous month and an increase of 0.9% in February 2022. Similarly, rural CPI inflation increased to 4.0% in February 2023, compared to an increase of 3.6% in the previous month and an increase of 1.5% in February 2022.

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