ISLAMABAD: The Pakistan Bureau of Statistics (PBS) said on Monday that the core inflation gauged by the Consumer Price Index (CPI) further decreased to 9.6 percent in August 2024 as opposed to 11.1 percent in July 2024.
PBS data indicates that in August 2023, the CPI-based inflation rate was recorded at 27.4%, the same month the previous year. It rose to 0.4% in August 2024 on a month-over-month basis, up from 1.7% in August 2023 and 2.1% in the preceding month.
Data show that in August 2024, the annual percentage rate of CPI inflation in Urban areas grew to 11.7%, up from 13.2% in the previous month and 25.0% in August 2023. In August 2024, it grew to 0.3% on a month-over-month basis, up from 1.6% in August 2023 and 2.0% in the preceding month.
In August 2024, year-over-year (YoY) CPI inflation in rural areas increased to 6.7% from 8.1% in the previous month and 30.9% in August 2023. In August 2024, it grew to 0.6% on a month-over-month (MoM) basis, up from 1.9% in August 2023 and 2.2% in the prior month.
Sensitive Price Indicator (SPI) inflation on a year-over-year basis jumped to 10.8% in August 2024 from 15.7% one month prior and 27.9% in August 2023. On a month-over-month basis, it fell to 0.3% in August 2024 after a rise of 2.0% the previous month and a rise of 4.1% in August 2023.
In August 2024, the YoY inflation of the Wholesale Price Index (WPI) grew to 6.3%, up from 10.4% the previous month and 24.3% in August 2023. In August 2024, on a month-over-month basis, it climbed by 0.3%, compared to 2.3% in the previous month and 4.2% in the same month the previous year, August 2023.
In August 2024, the core inflation rate for Urban areas, which is determined by factors other than food and energy, climbed to 10.2% on a year-over-year basis, up from 11.7% in the previous month and 18.4% in August 2023. In August 2024, it climbed by 0.4% on a month-over-month (MoM) basis, compared to 0.7% in the previous month and 1.8% in the equivalent month of the previous year, which was August 2023.
Compared to increases of 16.9% in the previous month and 25.9% in August 2023, the core inflation measured by non-food, non-energy rural areas increased to 14.4% on a year-over-year basis in August 2024. In August 2024, on a month-over-month (MoM) basis, it climbed by 0.6%, compared to 1.1% in the previous month and 2.8% in the same month the previous year, August 2023.
