CPI for October clocks in at 26.9% YoY

November 01, 2023 (MLN): The consumer price index (CPI) for the month of October 2023 clocked in at 26.9% YoY, compared to 31.4% YoY in the last month and 26.6% YoY in October 2022, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Wednesday showed.

On a sequential basis, the CPI has increased to 1.1% compared to an increase of 2% in the previous month.

The inflation figures came in slightly hotter than our estimates.

In October 2023, the Urban Consumer Price Index (CPI) inflation increased to 25.5% on a year-on-year basis, as compared to an increase of 29.7% in the previous month and 24.6% in October 2022.

Similarly, it increased to 1.1% in October 2023 as compared to an increase of 1.7% in the previous month and an increase of 4.5% in October 2022.

Moreover, the Rural CPI inflation rose to 28.9% on a year-on-year basis in October 2023 as compared to an increase of 33.9% in the previous month and 29.5% in October 2022.

Month-on-month, it grew to 1.1% in October 2023 as compared to an increase of 2.5% in the previous month and an increase of 5.0% in October 2022.

The Sensitive Price Index (SPI) inflation, on a year-on-year basis, increased to 34.2% in October 2023, up from 32% a month earlier and 24.0% in October 2022.

On a month-on-month basis, it rose by 0.2% in October 2023 as compared to an increase of 1.7% a month earlier and a decrease of 1.5% in October 2022.

Furthermore, the Wholesale Price Index (WPI) inflation on a YoY basis climbed to 24.6% in October 2023, down from the 26.4% increase a month earlier and the 32.6% surge in October 2022.

Similarly, on a sequential basis, it decreased by 1.9% in October 2023 as compared to an increase of 3.1% a month earlier and a decrease of 0.5% in the corresponding month of last year i.e. October 2022.

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