Inflation reaches 21.3pc in June; highest since 2008

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inflation in June

Islamabad: In the wake of the recent increases in fuel prices, the Consumer Price Index(CPI)-based inflation surged by a staggering 21.32pc year-over-year in June 2022 as opposed to increases of 13.8pc in the previous month and 9.7pc in June 2021.

Read: CPI inflation up by 13.8% in May

In June 2022, the CPI climbed by 6.3pc compared to the previous month’s gain of 0.4pc and June 2021’s decline of -0.3pc, according to the monthly data on CPI published by the Pakistan Bureau of Statistics (PBS).

The report also mentioned that, in urban areas, inflation increased by 19.8pc on a year-on-year basis in June 2022, compared to an increase of 12.4pc in the previous month and 9.6pc in June 2021. On a month-on-month basis, it increased by 6.2pc in June 2022 as compared to an increase of 0.3pc in the previous month and a decrease of -0.4pc in June 2021.

In rural areas, increased by 23.6pc on a year-on-year basis in June 2022 as compared to an increase of 15.9pc in the previous month and 9.7% in June 2021. On a month-on-month basis, it increased by 6.6pc in June 2022 as compared to an increase of 0.6pc in the previous month and a decrease of -0.1pc in June 2021.

Transportation, which accounts for 5.91pc of the CPI, increased by 24.39pc in June. Since the coalition administration took office in April, the price of petrol has increased by over Rs 99. On May 26, it initially increased the price of petrol by Rs 30, then on June 2, it hiked the price once more by Rs 30. The price was then increased by another Rs24 on June 15. It raised the price of petrol by Rs14.85 per litre as of July 1.

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