Overview:
The Consumer Price Index (CPI) inflation rose to 12.6% year-on-year in June 2024, compared to 11.8% in May 2024 and 29.4% in June 2023, according to the Pakistan Bureau of Statistics (PBS). The country missed its inflation target of 21% for the fiscal year 2023-24, recording an actual rate of 23.41% against the previous year’s 29.18%.
Monthly and Yearly Changes:
- Monthly Change (June 2024): CPI increased by 0.5%, compared to a decrease of 3.2% in May 2024 and a decrease of 0.3% in June 2023.
- Yearly Change:
- Urban CPI: Increased to 14.9% in June 2024 from 14.3% in May 2024 and 27.3% in June 2023.
- Rural CPI: Rose to 9.3% in June 2024 from 8.2% in May 2024 and 32.4% in June 2023.
Sensitive Price Index (SPI):
- Yearly Change: SPI inflation increased to 16.6% in June 2024 from 15.3% in May 2024 and 34.9% in June 2023.
- Monthly Change: SPI increased by 1.33% in June 2024 compared to a decrease of 4.0% in May 2024.
Wholesale Price Index (WPI):
- Yearly Change: WPI inflation increased to 10.6% in June 2024 from 9.9% in May 2024 and 22.4% in June 2023.
- Monthly Change: WPI increased by 0.4% in June 2024 compared to a decrease of 2.5% in May 2024.
Non-Food Non-Energy Inflation:
- Urban: Increased to 12.2% year-on-year in June 2024 from 12.3% in May 2024 and 18.5% in June 2023. Monthly increase was 0.6%.
- Rural: Remained at 17.0% year-on-year in June 2024, the same as May 2024, but down from 25.2% in June 2023. Monthly increase was 0.9%.
Trimmed Mean Inflation (20% weighted):
- Urban: Increased to 10.3% year-on-year in June 2024 from 11.0% in May 2024 and 22.9% in June 2023. Monthly increase was 0.6%.
- Rural: Increased to 11.0% year-on-year in June 2024 from 10.6% in May 2024 and 29.9% in June 2023. Monthly increase was 0.5%.
National and Urban Consumer Price Index:
- National CPI: Increased by 0.46% in June 2024 from May 2024 and by 12.57% from June 2023.
- Urban CPI: Increased by 0.58% in June 2024 from May 2024 and by 14.89% from June 2023.
Commodities with Price Changes:
Increased Food Prices (MoM):
- Tomatoes: +38.96%
- Onions: +20.73%
- Pulse Gram: +10.16%
- Chicken: +8.32%
- Potatoes: +6.68%
- Besan: +6.41%
- Butter: +6.26%
- Fresh Fruits: +4.63%
- Cigarettes: +4.55%
- Pulse Mash: +3.23%
- Gram Whole: +2.94%
- Condiments and Spices: +2.50%
- Milk Products: +2.48%
- Milk Fresh: +1.80%
- Beans: +1.63%
- Gur: +0.92%
- Meat: +0.81%
- Fish: +0.57%
- Pulse Moong: +0.53%
- Dry Fruits: +0.24%
- Milk Powder: +0.19%
- Pan Prepared: +0.18%
- Ice Cream: +0.13%
- Honey: +0.05%
- Dessert Preparation: +0.02%
Decreased Food Prices (MoM):
- Wheat Flour: -8.93%
- Wheat: -7.92%
- Wheat Products: -7.75%
- Eggs: -5.12%
- Rice: -4.15%
- Bakery and Confectionary: -2.53%
- Masoor: -2.29%
- Fresh Vegetables: -2.13%
- Mustard Oil: -0.82%
- Readymade Food: -0.81%
- Nimco: -0.67%
- Sugar: -0.41%
- Beverages: -0.17%
- Cooking Oil: -0.05%
- Vegetable Ghee: -0.05%
Increased Non-Food Prices (MoM):
- Electricity Charges: +8.10%
- Tailoring: +4.59%
- Transport Services: +4.36%
- Textbooks: +2.74%
- Drugs and Medicines: +2.16%
- Hospital Services: +1.95%
- Personal Effects: +1.48%
- Hosiery: +1.46%
- Medical Tests: +1.43%
- Garbage Collection: +1.05%
- Communication Apparatus: +0.99%
Decreased Non-Food Prices (MoM):
- Liquefied Hydrocarbons: -10.82%
- Motor Fuel: -5.44%
- Solid Fuel: -0.39%
Yearly Food Price Changes:
Increased:
- Onions: +98.40%
- Tomatoes: +68.35%
- Condiments and Spices: +42.11%
- Fresh Vegetables: +38.08%
- Fish: +30.38%
- Beans: +28.68%
- Pulse Mash: +24.32%
- Dry Fruits: +21.99%
- Meat: +19.67%
- Beverages: +19.38%
- Pulse Gram: +17.54%
- Milk Powder: +17.54%
- Sugar: +15.49%
- Pulse Masoor: +14.14%
- Sweetmeat: +14.02%
Decreased:
- Wheat: -30.61%
- Wheat Flour: -29.06%
- Chicken: -21.16%
- Cooking Oil: -16.47%
- Vegetable Ghee: -14.25%
- Fresh Fruits: -13.24%
- Mustard Oil: -11.91%
- Wheat Products: -4.78%
- Rice: -2.46%
- Tea: -1.86%
Yearly Non-Food Price Changes:
Increased:
- Gas Charges: +318.74%
- Electricity Charges: +66.81%
- Transport Services: +35.32%
- Dental Services: +31.39%
- Woolen Readymade Garments: +23.44%
- Cotton Cloth: +23.36%
- Marriage Hall Charges: +22.20%
- Doctor (MBBS) Clinic Fee: +20.66%
- Footwear: +19.71%
- Hospital Services: +19.24%
Decreased:
- Liquefied Hydrocarbons: -3.53%
Rural Consumer Price Index:
- Rural CPI: Increased by 0.28% in June 2024 from May 2024 and by 9.31% from June 2023.
WPI in June 2024:
- Monthly Change: Increased by 0.37% from May 2024.
- Yearly Change: Increased by 10.62% from June 2023.
The detailed analysis shows the varying impact of inflation across different sectors and commodities, highlighting significant increases in essential food items and non-food services like electricity and transport.
