CPI for June stands at 29.4%

July 03, 2023 (MLN): The consumer price index (CPI) for the month of June 2023 clocked in at 29.4% YoY, compared to 38% YoY in the last month and 21.3% YoY in June 2022, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Monday showed.

Meanwhile, on a sequential basis, inflation decreased to 0.3% MoM.

This has brought 11MFY23 average inflation to 29.18% as against 12.15% in the corresponding period last year.

CPI in urban areas jumped to 27.3% on a year-on-year basis in June 2023 as compared to an increase of 35.1% in the previous month and 19.8% in June 2022.

While on a monthly basis, it inched up by 0.1% in June 2023 as compared to an up of 1.5% in the previous month and an increase of 6.6% in June 2022.

Similarly, prices in the rural areas also witnessed an uptick as CPI inflation in these areas rose to 32.4% YoY in June 2023 as compared to an increase of 42.2% in the previous month and 23.6% in June 2022.

However, on a month-on-month basis, it decreased to 0.8% in June 2023 as compared to an increase of 1.7% in April 2023 and an increase of 6.6% in June 2022.

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