CPI inflation recorded at 11.1% in July: PBS

• General CPI inflation clocked in at 12.6% in previous month.
• Urban CPI inflation increases by 13.2% on YoY basis in July 2024.
• Rural CPI inflation grows by 8.1% on year-on-year basis last month.

ISLAMABAD: The general Consumer Price Index (CPI)-based inflation recorded at 11.1% on year-on-year basis in July 2024, down from 12.6% in June 2024 and 28.3% in the corresponding month last year, according a data released by the Pakistan Bureau of Statistics (PBS).

The latest data issued on Thursday showed that the general CPI inflation  increased to 2.1% in July 2024 on a month-on-month basis, compared to an increase of 0.5% in the previous month and an increase of 3.5% in July 2023.

As per the PBS data, the urban CPI inflation increased to 13.2% on year-on-year basis in July 2024, compared to an increase of 14.9% in the previous month and 26.3% in July 2023. 

On month-on-month basis, it increased to 2.0% in July 2024, compared to an increase of 0.6% in the previous month and an increase of 3.6% in July 2023.

Meanwhile, the rural CPI inflation grew by 8.1% on year-on-year basis in July 2024, compared to an increase of 9.3% in the previous month and 31.3% in July 2023. 

On month-on-month basis, it increased to 2.2% in July 2024, compared to an increase of 0.3% in the previous month and an increase of 3.3% in July 2023.

Moreover, the PBS data showed a year-on-year increase of 15.7% in the  Sensitive Price Indicator (SPI) inflation during July 2024. Last month, it was 16.6% and 29.3% in July 2023. 

On a month-on-month basis, it increased by 2.0% in July 2024, compared to an increase of 1.3% a month earlier and an increase of 2.8% in July 2023.

The Wholesale Price Index (WPI) inflation on year-on-year basis increased to 10.4% in July 2024, compared to an increase of 10.6% a month earlier and an increase of 23.1% in July 2023. 

Meanwhile, the month-on-month difference suggested an increase of 2.3% in July 2024 compared to an increase of 0.4% in the previous month and an increase of 2.5% in corresponding month of last year (July 2023).

The urban core inflation, measured by non-food non-energy, increased to 16.9% on year-on-year basis in July 2024, compared to an increase of 17.0% in the previous month and 24.6% in July 2023. 

On month-on-month basis, it increased by 1.1% in July 2024, compared to an increase of 0.9% in previous month and an increase of 1.2% in corresponding month of last year i.e. July 2023.

The rural core inflation, measured by non-food non-energy increased to 16.9% on year-on-year basis in July 2024, compared to an increase of 17.0% in the previous month and 24.6% in July 2023. 

On a month-on-month basis, it increased by 1.1% in July 2024, compared to an increase of 0.9% in previous month and an increase of 1.2% in corresponding month of last year i.e. July 2023.