Saba Javed

The monthly inflation based on the Consumer Price Index (CPI) slowed down from 26.6% in October 2020 to 23.8% in November 2022 on a year-over-year (YoY) basis, according to the Pakistan Bureau of Statistics (PBS). On a month-over-month (MoM) basis, it rose to 0.8% in November 2022 compared to increases of 4.7% in the previous month (October) and 3.0% in the same month the previous year, i.e. November 2021.

On a year-over-year basis, the top few food items that saw price hikes in November compared to the corresponding month of last year were onions (284.87%), gramme whole (63.49%), tea (62.18%), pulse gramme (56.19%), pulse gramme flour (56.1%), butter (53.05%), pulse mash (47.76%), pulse moong (46.29%), mustard oil (44.69%), wheat (43.4%), cooking oil (41.88%), dessert preparation (40.1%), rice (39.75%), and  pulse masoor (38.73%).

The non-food commodities that showed an increase during the period on a YoY basis included motor fuel (52.02%), stationery (44.57%), washing soap, detergents, matchbox (43.42%), transport services (33.43%), motor vehicle accessories (31.48%) and construction input items (30.02%). Meanwhile, on a MoM basis, the food commodities that saw a decrease in prices included sugar (9.9%), condiments and spices (9.78%) and jaggery (3.64%), whereas the non-food items that witnessed decease in prices in November 2022 against November 2021 included liquefied hydrocarbons (0.03%).

The CPI inflation urban, increased to 21.6% on a year-on-year basis in November 2022 compared to an increase of 24.6% in the previous month and 12.0% in November 2021. On a month-on-month basis, it increased to 0.4% in November 2022 compared to an increase of 4.5% in the previous month and an increase of 2.9% in November 2021.According to the PBS data, the CPI inflation rural, increased to 27.2% on a year-on-year basis in November 2022 compared to an increase of 29.5% in the previous month and 10.9% in November 2021.

On a month-on-month basis, it increased to 1.3% in November 2022 compared to an increase of 5.0% in the previous month and an increase of 3.1% in November 2021. The Sensitive Price Indicator (SPI) on a YoY basis increased to 27.1% in November 2022 as compared to an increase of 24.0% a month earlier and an increase of 18.1% in November 2021. On a MoM basis, it increased by 6.1% in November 2022 compared to a decrease of 1.5% a month earlier and an increase of 3.6% in November 2021.

In comparison to increases of 32.6% a month earlier and 27.0% in November 2021, the Wholesale Price Index-based inflation on a YoY basis climbed to 27.7% in November 2022. On a month-over-month basis, it fell by 0.02% in November 2022 as opposed to a 0.5% drop a month earlier and a 3.8% rise in the previous month i.e. November 2021.

Credit : Independent News Pakistan-WealthPk