Pakistan’s Inflation Breaks 47-Year Record in January 2023
ISLAMABAD, February 02, 2023- According to the Pakistan Bureau of Statistics, Consumer Price Index-based inflation in January 2023 was 27.6 percent, up from 24.5 percent in December 2022 and 13 percent in January 2022. (PBS).
Pakistan’s highest inflation since May 1975 is 27.6%. Rupee depreciation and petrol/electricity/gas have yet to affect food inflation, which is 43%. It rose to 2.9 percent in January 2023 from 0.5 percent in December 2022 to 0.4 percent in January 2022. This raises 7MFY23 inflation to 25.4 percent from 10.3 percent in 7MFY22.
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In January 2023, urban CPI inflation rose 24.4 percent YoY, up from 21.6 percent in December to 13.0 percent in January 2022. It rose to 2.4 percent in January 2023 from 0.3 percent in December 2022 to 0.1 percent in January 2022.
In January 2023, rural CPI inflation rose to 32.3 percent from 28.8 percent the month before to 12.9 percent in January 2022. It rose to 3.6 percent in January 2023 from 0.7 percent in December 2022 to 0.9 percent in January 2022. SPI inflation jumped to 30.5 percent YoY in January 2023 from 27.8 percent a month earlier to 20.9 percent in January 2022. In January 2023, it rose 1.3 percent compared to 0.2 percent a month before and 0.8 percent in January 2022. WPI inflation jumped to 28.5 percent YoY in January 2023 from 27.1 percent a month earlier to 24.0 percent in January 2022. In January 2023, it climbed by 1.8 percent, compared to a 0.7 percent fall a month before and a 0.6 percent gain in January 2022.
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