Inflation soars past 27% in August; highest in 49 years

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Islamabad: Adding more to the woes of flood victims, the Consumer Price Index (CPI)-based inflation in Pakistan soared past 27% on a year-on-year basis, the Pakistan Bureau of Statistics (PBS) published its monthly report.

According to the PBS, during August, on a month-on-month basis, the CPI-based inflation increased by 2.4% in August 2022 as compared to 4.3% in the previous month, and 0.6% in August 2021.

However, on a YoY basis, inflation hit 27.3% in August 2022, compared to 24.9% in the previous month and 8.4% in August 2021.

Inflation August

The report further said that the CPI-based inflation in urban areas increased by 26.2% on a YoY basis in August 2022 as compared to an increase of 23.6% in the previous month and 8.3% in Aug 2021.

While on an MoM basis, in urban areas, it increased by 2.6% in August 2022 as compared to an increase of 4.5% in the previous month and an increase of 0.5% in August 2021.

Similarly, in rural areas, inflation increased by 28.8% on a YoY basis in August 2022 as compared to an increase of 26.9% in the previous month and 8.4% in August 2021.

Likewise, on an MoM basis, it increased by 2.2% in August 2022 as compared to an increase of 4.2% in the previous month and an increase of 0.7% in August 2021 in rural areas.

According to Arif Habib Limited, this is the highest level of inflation since November 1973.

The average inflation recorded during the first two months of FY23 recorded at 26.1% compared to 8.36% recorded in the same period in FY22.

More misery to flood affectees as weekly inflation reaches 44.58pc

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