ISLAMABAD: Inflation measured by Consumer Price Index (CPI) rose to 24.5 percent in December 2022 on year-on-year (YoY) basis, Pakistan Bureau of Statistics (PBS) said in report.

On month-on-month (MoM) basis, inflation increased to 0.5 percent in December 2022 as compared to an increase of 0.8 percent in previous month, data showed.

“CPI inflation General, increased to 24.5 percent on YoY basis in December 2022 as compared to an increase of 23.8 percent in previous month and 12.3 percent in December 2021,” said PBS. Prices were up 0.5 percent in December from previous month, bureau said in press release.

Despite around 2.8 percent slowdown in index movement, prices of majority of consumer goods remain out of reach of people.

Inflation rate had been in line with Ministry of Finance’s expectations, which ranged from 23 percent to 25 percent. As per PBS, CPI inflation in urban areas increased to 21.6 percent on year-on-year basis in December 2022 as compared to an increase of 21.6 percent in previous month and 12.7 percent in December 2021.

On MoM basis, it increased to 0.3 percent in December 2022 as compared to an increase of 0.4 percent in previous month and an increase of 0.3 percent in December 2021.

Published in The Daily National Courier, January, 03 2023

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