CPI quickens to 7.2% in Oct

November 01, 2024 (MLN): Pakistan’s inflation quickened for the first time in four months as food costs rose.

Consumer prices rose 7.17% over the prior year in October compared to a gain of 6.93% last month and 26.79% in October 2023, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Friday showed.

The annual rise in the consumer price index (CPI) was higher than the market expectations of 6.8%.

Accordingly, this takes the average yearly inflation of 4MFY25 to 8.68% compared to 28.45% in 4MFY24.

On a monthly basis, CPI rose 1.23% in October 2024 as compared to a decrease of 0.52% in the previous month and an increase of 1.00% in October 2023.

The average core inflation, measured by non-food non-energy, rose 9.80% YoY in October 2024 as compared to an increase of 10.40% YoY in the previous month and an increase of 21.80% YoY in October 2023.

On a monthly basis, average core CPI increased 0.60% in October 2024 as compared to an increase of 0.30% in the previous month and an increase of 1.10% in October 2023.

With the CPI-based inflation rate at 7.17% and the policy rate at 17.50%, the real interest now stands at 10.33%.

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