Pakistan’s Inflation Falls to Lowest Level in 6.5 Years
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
Pakistan’s Consumer Price Index (CPI) based inflation slowed to 4.9 percent on a year-on-year basis in November 2024 as compared to an increase of 7.2 percent in the previous month and 29.2 percent in November 2023, according to the Pakistan Bureau of Statistics (PBS).
According to Topline Securities, this is the lowest reading in 78 months (6.5 years).
CPI inflation Urban decreased to 5.2 percent on a year-on-year basis in November 2024 as compared to 9.3 percent in the previous month and 30.4 percent in November 2023. On a month-on-month basis, it increased by 0.5 percent in November 2024 as compared to an increase of 1.1 percent in the previous month and an increase of 4.3 percent in November 2023.
CPI inflation Rural, increased by 4.3 percent on a year-on-year basis in November 2024 as compared to 4.2 percent in the previous month and 27.5 percent in November 2023. On a month-on-month basis, it increased by 0.5 percent in November 2024 as compared to an increase of 1.5 percent in the previous month and an increase of 0.4 percent in November 2023.
SPI inflation on YoY decreased to 7.3 percent in November 2024 as compared to 9.7 percent a month earlier and 30.6 percent in November 2023. On an MoM basis, it increased by 1.0 percent in November 2024 as compared to an increase of 0.6 percent a month earlier and an increase of 3.3 percent in November 2023.
WPI inflation on a YoY basis decreased to 2.3 percent in November 2024 as compared to 3.9 percent a month earlier and an increase of 26.4 percent in November 2023. On an MoM basis, it decreased by 0.1 percent in November 2024 as compared to a no change in the previous month and an increase of 1.4 percent in the corresponding month of last year i.e. November 2023.
Core Inflation (NFNE)
Measured by non-food non-energy Urban increased to 8.9 percent on a YoY basis in November 2024 as compared to 8.6 percent in the previous month and 18.6 percent in November 2023. On an MoM basis, it increased by 1.2 percent in November 2024 as compared to an increase of 0.6 percent in the previous month and an increase of 0.9 percent in the corresponding month of last year i.e. November 2023.
Measured by non-food non-energy Rural decreased to 10.9 percent on a YoY basis in November 2024 as compared to 11.7 percent in the previous month and 25.9 percent in November 2023. On an MoM basis, it remained unchanged at 0.7 percent in November 2024 as compared to the previous month and an increase of 1.4 percent in the corresponding month of last year i.e. November 2023.
Core inflation (Trimmed)
Measured by a 20 percent weighted trimmed mean Urban increased to 7.5 percent on a YoY basis in November 2024 as compared to 6.4 percent in the previous month and 22.9 percent in November 2023. On an MoM basis, it increased by 0.6 percent in November 2024 as compared to an increase of 0.7 percent in the previous month and an increase of 0.1 percent in the corresponding month of last year i.e. November 2023.
Measured by a 20 percent weighted trimmed mean Rural increased to 7.8 percent on a YoY basis in November 2024 as compared to 7.2 percent in the previous month and 27.9 percent in November 2023. On an MoM basis, it increased by 0.5 percent in November 2024 as compared to an increase of 1.0 percent in the previous month and an increase of 0.5 percent in the corresponding month of last year i.e. November 2023.
Reference Link:- https://propakistani.pk/2024/12/02/pakistans-inflation-falls-to-lowest-level-in-6-5-years/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
