Pakistan records highest inflation in 22 months
Business
Pakistan records highest inflation in 22 months
KARACHI (Dunya News) – Pakistan continues to witness an upward swing in consumer prices as inflation in Pakistan skyrocketed to 12.3% in December 2021 – the fastest pace in 22 months.
According to Pakistan Bureau of Statistics (PBS), the Consumer Price Index (CPI) based monthly inflation increased by 12.28% on year-on-year (YoY) basis during the month of December 2021 against the corresponding month of last year.
The average CPI-based inflation rate during the period July-December 2021-22 over same period of the preceding year was recorded at 9.81%.
On month-on-month (MoM) basis, it declined by 0.02% when compared to previous month (November), according to PBS data.
According to breakup figures of PBS, the Urban CPI recorded an increase of 12.74% on year-on-year basis while it was increased by 0.3% on month-on-month basis.
On the other hand, the CPI inflation Rural, increased by 11.61% on year-on-year basis in December 2021 as compared to same month of the preceding year. On month-on-month basis, it declined by 0.5% in December 2021 as compared to November, 2021.
Top few commodities (urban) which recorded decrease in December compared to same month of the preceding year included tomatoes (28.90%), onions (27.73%), pulse moong (24.59%), potatoes (23.96%), chicken (14.34%), eggs (8.19%) and condiments & spices (2.63%).
Similarly prices of top few commodities (rural) which recorded decrease in December compared to same month of the year 2020 included, tomatoes (30.59%), onions (29.78%), pulse moong (24.53%), potatoes (22.72%), condiments & spices (21.66%), chicken (13.43%), eggs (8.03%) and vegetables (1.15%).
The top few commodities (urban) which recorded increase in prices in the month under review included mustard oil (60.77%), cooking oil (59.33%), vegetable ghee (56.33%), pulse masoor (33.56%), fruits (29.93%), meat (20.4%), gram whole (20.13%), wheat flour (19.12%), wheat (14.63%), milk (14.46%), beans (14.28%), gur (14.13%), sugar (13.28%), liquefied hydrocarbons (72.38%), electricity charges (59.38%), motor fuel (39.68%), footwear (26.87%), cleaning and laundering (20.37%), washing soap/detergents/match box (16.57%), motor vehicle accessories (13.82%) and construction input items (11.35%).
Likewise the prices of top few commodities (rural) which recorded increase in the month under review included mustard oil (57.78%), cooking oil (57%), vegetable ghee (55.47%), pulse masoor (26.81%), gram whole (26.72%), fruits (25.83%), meat (19.72%), wheat flour (19.29%), beans (14.44%), sugar (13.77%), besan (12.49%), gur (11.71%), milk (10.07%), electricity charges (59.38%), liquefied hydrocarbons (55.56%), motor fuels (38.43%), hosiery (16.89%), washing soaps, detergents and match box (16.85%), woolen readymade garments (14.13%), woolen cloth (13.91%), furniture and furnishing (12.49%), cleaning and laundering (12.19%), motor vehicles accessories (12.09%) and readymade garments (11.40%).
