CPI Inflation Decelerates to 20.7% in March

APP

Islamabad: The Consumer Price Index (CPI)-based inflation came down to 20.7 percent during the month of March 2023 as compared to 23.1 percent recorded during February 2023, the Pakistan Bureau of Statistics (PBS) reported Monday.

According to PBS data, the CPI-based inflation during the same month of last year was recorded at 35.4%. 

On a month-on-month basis, it increased to 1.7% in March 2024 as compared to no change observed in the previous month and an increase of 3.7% in March 2023.

According to the data, CPI inflation in urban areas increased to 21.9% on a year-on-year basis in March 2024, as compared to an increase of 24.9% in the previous month and 33.0% in March 2023. On a month-on-month basis, it increased to 1.4% in March 2024, as compared to an increase of 0.2% in the previous month and an increase of 3.9% in March 2023.

CPI inflation in rural areas increased to 19.0% on a year-on-year basis in March 2024, as compared to an increase of 20.5% in the previous month and 38.9% in March 2023. On a month-on-month basis, it increased to 2.1% in March 2024, as compared to a decrease of 0.3% in the previous month and an increase of 3.5% in March 2023.

 The Sensitive Price Indicator (SPI) inflation on YoY increased to 25.9% in March 2024 as compared to an increase of 30.4% a month earlier and 40.4% in March 2023. On a MoM basis, it increased by 2.1% in March 2024 as compared to a decrease of 0.8% a month earlier and an increase of 5.8% in March 2023.

 The Wholesale Price Index (WPI) inflation on a YoY basis increased to 14.8% in March 2024, as compared to an increase of 18.7% a month earlier and an increase of 37.5% in March 2023. On a MoM basis, it increased by 1.3% in March 2024 as compared to an increase of 1.1% in the previous month and an increase of 4.7% in the corresponding month of last year, i.e., March 2023.

The core inflation (NFNE), measured by non-food, non-energy Urban, increased to 12.8% on a year-over-year basis in March 2024, as compared to an increase of 15.5% in the previous month and 18.6% in March 2023. On a MoM  basis, it increased by 0.1% in March 2024 as compared to an increase of 0.3% in the previous month and an increase of 2.5% in the corresponding month of last year, i.e., March 2023.

The core inflation in rural areas increased to 20.0% on a year-over-year basis in March 2024, as compared to an increase of 21.9% in the previous month and 23.1% in March 2023. On a month-over-month basis, it increased by 0.8% in March 2024 as compared to an increase of 0.4% in the previous month and an increase of 2.4% in the corresponding month of last year, i.e., March 2023.