Housing, energy the only category with stubborn inflation

Abdur Rahman | October 01, 2024 at 03:03 PM GMT+05:00

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October 01, 2024 (MLN): The latest Consumer Price Index (CPI) report revealed housing and energy index is the only category where inflation continues to be stubbornly sticky.

Despite recording a marginal 0.6% decline from last month, housing and energy costs are up 20.9% over the prior year. They accounted for 56.8% of the total yearly price gain in September.

Overall, Pakistan's inflation slowed to the lowest in almost four years during the month, with consumer prices rising by 6.9% from last year. That is within the central bank's target range of 5-7%.

Here are the contributions to CPI, in percentage points, year over year:

Meanwhile, food costs that drove the headline inflation to record levels last year have turned negative. Prices declined 0.6% from last year.

Moreover, transport costs fell 7.3% over the prior year amid a significant fall in international oil prices.

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