ISLAMABAD: Pakistan’s Consumer Price Index-based inflation recorded a considerable decline, clocking in at 29.4 percent on a year-on-year (YoY) basis in June 2023 in contrast to an increase of 38 percent in the previous month and 21.3 percent in June 2022.
On a month-on-month (MoM) basis, it decreased by 0.3 percent, Pakistan Bureau of Statistics (PBS) data released on Monday revealed.
As per data, the food group, which commands a considerable weight of 34.58 percent in the inflation reading, remained the main driver behind the decrease. It decreased to 261.78 last month as compared to 264.45 in May 2023, a fall of over 1 percent.
Analysts attributed the fall to the stabilisation of the US dollar and decrease in commodity rates.
Inflation in urban areas
CPI inflation in urban areas clocked in at 27.3 percent on a YoY basis last month as compared to an increase of 35.1 percent in May this year and 19.8 percent in June 2022.
On a MoM basis, it increased to 0.1 percent in June 2023 as compared to an increase of 1.5 percent in the previous month and an increase of 6.2 percent in June 2022.
Meanwhile, CPI inflation in rural areas increased to 32.4 per cent on YoY basis in June 2023 as compared to an increase of 42.2 per cent in the previous month and 23.6 per cent in June 2022.
On a MoM basis, it decreased to 0.8 percent in June 2023 as compared to an increase of 1.7 percent in the previous month and an increase of 6.6 percent in June 2022.
