CPI inflation falls to 17.3% in April 2024

News Image

MG News | May 02, 2024 at 01:15 PM GMT+05:00

0:00

May 02, 2024 (MLN): The consumer price index (CPI) for April 2024 clocked in at 17.3% YoY, compared to 20.7% YoY in the last month and 36.4% YoY in April 2023, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Thursday showed.

On a monthly basis, CPI fell 0.4% in April 2024 as compared to an increase of 1.7% in the previous month and an increase of 2.4% in April 2023.

The fall in monthly inflation was the first since June 2023, and significantly below the last 12-month average increase of 1.58% MoM.

The inflation figures came in line with the MG Research's expectations, while softer than the Finance Ministry's forecast.

Accordingly, this takes the average yearly inflation of 10MFY24 to 26.0% YoY compared to 28.2% YoY in 10MFY23.

The average core inflation, measured by non-food non-energy, rose 15.6% YoY in April 2024 as compared to an increase of 15.7% YoY in the previous month and an increase of 21.7% YoY in April 2023.

On a monthly basis, average core CPI increased 2.1% in April 2024 as compared to an increase of 0.4% in the previous month and an increase of 2.2% in April 2023.

Metric Apr-24 Mar-24 Apr-23 10MFY24 10MFY23
CPI MoM -0.4% 1.7% 2.4% 1.5% 2.5%
CPI YoY 17.3% 20.7% 36.4% 26.0% 28.2%
Core CPI MoM 2.1% 0.4% 2.2% 1.2% 1.7%
Core CPI YoY 15.6% 15.7% 21.7% 19.8% 17.0%

With the CPI-based inflation rate at 17.3% and the policy rate at 22.0%, the real interest now stands at 4.7%.

Outlook

Continuing the disinflation trend, consumer prices will experience an even sharper downward trend from June onwards due to a high base.

If consumer prices rise an average 0.5% a month going forward, annual inflation will drop to about 6.2% by December.

With a 1% monthly increase, annual inflation will fall to about 12.7% by December.

Meanwhile, with an average monthly increase of 1.35%, which is the last 12-month average, annual inflation will stand at 17.4% by December.

The following chart maps out the yearly inflation trajectory based on monthly inflation rates of 0.5%, 1%, and the last 12-month average of 1.35%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 155,489.49
40.94M
0.68%
1049.81
ALLSHR 95,194.94
173.93M
0.56%
526.79
KSE30 47,474.28
16.04M
0.75%
354.38
KMI30 226,963.19
21.74M
0.37%
837.47
KMIALLSHR 63,823.03
67.37M
0.40%
253.98
BKTi 42,015.69
8.52M
0.94%
392.87
OGTi 31,594.54
0.95M
0.34%
105.76
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 116,485.00 116,690.00
115,160.00
-780.00
-0.67%
BRENT CRUDE 67.33 67.43
66.78
0.34
0.51%
RICHARDS BAY COAL MONTHLY 84.00 84.00
84.00
-1.90
-2.21%
ROTTERDAM COAL MONTHLY 93.00 93.25
92.75
0.00
0.00%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 63.03 63.13
62.52
0.34
0.54%
SUGAR #11 WORLD 15.81 15.87
15.67
-0.01
-0.06%

Chart of the Day


Latest News
September 15, 2025 at 09:58 AM GMT+05:00

Engro Fertilizers to undergo planned maintenance of base plant


September 15, 2025 at 09:49 AM GMT+05:00

NBP issues foreign exchange rates


September 15, 2025 at 09:36 AM GMT+05:00

Asia markets mixed as Kospi hits record high


September 15, 2025 at 09:21 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg