CPI for September stands at 31.4% YoY

October 02, 2023 (MLN): The consumer price index (CPI) for the month of September 2023 clocked in at 31.4% YoY, compared to 27.4% YoY in the last month and 23.2% YoY in September 2022, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Monday showed.

On a sequential basis, the CPI has increased to 2% compared to an increase of 1.7% in the previous month.

The inflation numbers came in line with the market expectations wherein the market participants expected September inflation to settle around 30.54% – 31.6% with an average estimate of around 31% YoY.

In September 2023, the Urban Consumer Price Index (CPI) inflation increased to 29.7% on a year-on-year basis, compared to the previous month's 25.0% and 21.2% in September 2022.

Similarly, it increased to 1.7% MoM in September 2023 as compared to an increase of 1.6% in the previous month and a decrease of 2.1% in September 2022.

Moreover, the Rural CPI inflation rose to 33.9% YoY in September 2023 compared to the previous month's 30.9% and September 2022's 26.1%. Month-on-month, it grew by 2.5% in September 2023, as compared to an increase of 1.9% in the previous month and an increase of 0.2% in September 2022.

The Sensitive Price Index (SPI) inflation, on a year-on-year basis, increased to 32% in September 2023, up from 27.9% in the previous month and 28.6% in September 2022.

On a month-on-month basis, it rose by 1.7% in September 2023, compared to the 4.2% increase in the prior month and the substantial 1.4% increase in September 2022.

Furthermore, the Wholesale Price Index (WPI) inflation on a YoY basis climbed to 26.4% in September 2023, up from the 24.3% increase a month earlier and down from the 38.9% surge in August 2022.

While on a sequential basis, it increased by 3.1% in September 2023, compared to the 4.2% increase in the prior month and the 1.4% increase in September 2022.

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