In July 2024, Pakistan’s Consumer Price Index (CPI)-based inflation decreased to 11.1 per cent year-on-year, down from 12.6 per cent in June 2024 and a substantial 28.3 per cent in July 2023, according to data from the Pakistan Bureau of Statistics (PBS).
On a month-on-month basis, the CPI inflation rose by 2.1 per cent in July 2024, a significant increase from the 0.5 per cent recorded in June 2024 but a slower rise compared to the 3.5 per cent increase in July 2023.
The data further reveals that urban CPI inflation climbed to 13.2 per cent year-on-year in July 2024, up from 14.9 per cent in June 2024 and down from 26.3 per cent in July 2023. Month-on-month, urban CPI inflation increased by 2.0 per cent, up from 0.6 per cent in the previous month but lower than the 3.6 per cent recorded in July 2023.
For rural areas, CPI inflation rose by 8.1 per cent year-on-year in July 2024, compared to 9.3 per cent in June 2024 and 31.3 per cent in July 2023. On a month-on-month basis, rural CPI inflation increased by 2.2 per cent, a jump from 0.3 per cent in June 2024 but slightly lower than the 3.3 per cent rise in July 2023.
The Sensitive Price Indicator (SPI) inflation saw a year-on-year increase of 15.7 per cent in July 2024, down from 16.6 per cent in June 2024 and 29.3 per cent in July 2023. Month-on-month, SPI inflation rose by 2.0 per cent, up from 1.3 per cent in June 2024 and slightly lower than the 2.8 per cent increase in July 2023.
The Wholesale Price Index (WPI) inflation was recorded at 10.4 per cent year-on-year in July 2024, compared to 10.6 per cent in the previous month and 23.1 per cent in July 2023. On a month-on-month basis, WPI inflation rose by 2.3 per cent, up from 0.4 per cent in June 2024 and similar to the 2.5 per cent rise in July 2023.
