ISLAMABAD: The Consumer Price Index (CPI) inflation for June 2024 stood at 12.6 percent year-on-year in Pakistan, marking a notable decrease from the 29.4 percent recorded in the same period last year, Pakistan Bureau of Statistics (PBS) reported on Monday.
SBP reported a month-on-month increase of 0.5 percent in June 2024, following a significant decrease of 3.2 percent in the previous month and a slight decline of 0.3 percent in June 2023.
Urban CPI inflation saw a year-on-year rise to 14.9 percent in June 2024, compared to 14.3 percent in May 2024 and 27.3 percent in June 2023. On a monthly basis, urban inflation increased by 0.6 percent in June 2024, contrasting with a decrease of 2.8 percent in May 2024 and an increase of 0.1 percent in June 2023.
Similarly, rural CPI inflation increased to 9.3 percent year-on-year in June 2024, up from 8.2 percent in May 2024 and significantly lower than the 32.4 percent recorded in June 2023. Month-on-month, rural inflation rose by 0.3 percent in June 2024, following a decrease of 3.9 percent in May 2024 and a decline of 0.8 percent in June 2023.
The Sensitive Price Indicator (SPI) inflation surged to 16.6 percent year-on-year in June 2024, compared to 15.3 percent in May 2024 and 34.9 percent in June 2023. Month-on-month, SPI inflation rose by 1.33 percent in June 2024, contrasting with a decrease of 4.0 percent in May 2024 and an increase of 0.2 percent in June 2023.
The Wholesale Price Index (WPI) inflation recorded a year-on-year increase to 10.6 percent in June 2024, up from 9.9 percent in May 2024 and 22.4 percent in June 2023. On a monthly basis, WPI inflation rose by 0.4 percent in June 2024, after a decrease of 2.5 percent in May 2024 and a decline of 0.3 percent in June 2023.
Core inflation, measured by non-food non-energy items in urban areas, rose to 12.2 percent year-on-year in June 2024, compared to 12.3 percent in May 2024 and 18.5 percent in June 2023. Month-on-month, urban core inflation increased by 0.6 percent in June 2024, following a 0.4 percent rise in May 2024 and a 0.7 percent increase in June 2023.
In rural areas, core inflation for non-food non-energy items reached 17.0 percent year-on-year in June 2024, consistent with May 2024 figures and higher than the 25.2 percent recorded in June 2023. Month-on-month, rural core inflation rose by 0.9 percent in June 2024, compared to a 0.5 percent increase in May 2024 and a 0.9 percent increase in June 2023.
