June's inflation hits to 13-year high of 21.3% YoY

July 01, 2022 (MLN): Pakistan's yearly inflation rate (New Base 2015-16) in June 2022 rose to a 13-year high of 21.3% compared to 13.8% in May 2022 and 9.7% in June 2021, according to the latest data released by Pakistan Bureau of Statistics (PBS) today. 

Last time, the inflation surged to 21.07% in February 2009. 

On a month-on-month basis, it increased by 6.3 percent in June 2022 as compared to an increase of 0.4% in the previous month and a decrease of 0.3% in June 2021.

The average inflation of FY22 is 12.15% compared to 8.9% from the corresponding period last year. 

June’s reading was notably above the market expectations which were between 17.7% and 19.8% with an average estimate of 18.82%.

The data further revealed that inflation in urban areas has increased by 19.8% on a year-on-year basis in June 2022 as compared to a surge of 12.4% in the previous month and 9.6% in June 2021. On a month-on-month basis, it inched up by 6.2% in June 2022 as compared to an increase of 0.3% in the previous month and a decrease of 0.4% in June 2021.

Similarly, the prices in rural areas have also witnessed an upward trajectory, up by 23.6% YoY and 6.6% MoM in June 2022.

SPI inflation on YoY went up by 21.7% YoY and 6.2% MoM in June 2022 while WPI inflation jumped by 38.9% YoY in June 2022 and 8.2% MoM in June 2022.

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