Pakistan’s general inflation measured by Consumer Price Index (CPI) clocked in at 24-month peak of 13 percent in January as prices of almost all commodities and utilities maintained a growing trend.
The sectors that posted double-digit growth in prices when compared to the same month of last year included perishable and non-perishable food items, energy, transportation, clothing, restaurants and health.
While household and energy rates increased by 15.5 percent, the transport sector led the inflationary trend with an increase of over 23 percent, followed by 13 percent and 14 percent for perishable and non-perishable food items, restaurants and hotels 13 percent and clothing 12 percent.
This is the highest CPI inflation since January 2020 when it was 14.6 percent.
“CPI inflation (General), increased by 13 percent on a year-on-year basis in January 2022 as compared to an increase of 12.3 percent in the previous month (December 2021) and 5.7 percent in January 2021,” said Pakistan Bureau of Statistics (PBS). On a month-on-month (MoM) basis, CPI increased by 0.4 percent in January 2022 as compared to a decrease of -0.02 percent in the previous month and a decrease of -0.2 percent in January 2021.
The CPI inflation for urban population increased by 13 percent on a year-on-year (YoY) basis in January 2022 as compared to an increase of 12.7 percent in the previous month and 5 percent in January 2021. On a month-on-month basis, it increased by 0.1 percent in January 2022 as compared to an increase of 0.3 percent in the previous month and a decrease of -0.2 percent in January 2021.
The CPI inflation for rural population was registered to have increased by 12.9 percent on a year-on-year basis in January 2022 as compared to an increase of 11.6 percent in the previous month and 6.6 percent in January 2021. On a month-on-month basis, it increased by 0.9 percent in January 2022 as compared to a decrease of -0.5 percent in the previous month and a decrease of -0.3 percent in January 2021.
The PBS said the sensitive price indicator (SPI) inflation on a YoY basis increased by 20.9 percent in January 2022 as compared to an increase of 20.9 percent a month earlier and an increase of 7.7 percent in January 2021. On a MoM basis, it decreased by -0.8 percent in January 2022 as compared to a decrease of -0.4 percent a month earlier and a decrease of -0.8 percent in January 2021.
The wholesale price index (WPI) inflation on a YoY basis increased by 24 percent in January 2022 as compared to an increase of 26.2 percent a month earlier and an increase of 6.4 percent in January 2021. WPI inflation on a MoM basis increased by 0.6 percent in January 2022 as compared to a decrease of -0.2 percent a month earlier and an increase of 2.5 percent in corresponding month i.e. January 2021.
Core inflation measured by non-food non-energy (urban) increased by 8.2 percent on a YoY basis in January 2022 as compared to 8.3 percent increase in the previous month and 5.4 percent in January 2021. On a MoM basis, it increased by 0.8 percent in January 2022 as compared to increase of 1.1 percent in the previous month, and an increase of 0.9 percent in January 2021.
Measured by NFNE, the core CPI (rural) increased by 9 percent on a YoY basis in January 2022 as compared to an 8.9 percent increase in the previous month and 7.8 percent in January 2021. On a MoM basis, it increased by 1.2 percent in January 2022 as compared to an increase of 1.1 percent in previous month, and an increase of 1.1 percent in corresponding month of last year.
Core inflation (trimmed) as measured by 20 percent weighted trimmed mean urban increased by 10.6 percent on a YoY basis in January 2022 as compared to 10.8 percent in the previous month and 5.7 percent in January 2021. On a MoM basis, it increased by 0.5 percent in January 2022 as compared to an increase of 1.1 percent in the previous month and an increase of 1.0 percent in January 2021.
Measured by 20 percent weighted trimmed mean rural increased by 10.9 percent on a YoY basis in January 2022 as compared to 10.3 percent in the previous month and by 8.1 percent in January 2021. On a MoM basis, it increased by 1.1 percent in January 2022 as compared to an increase of 1 percent in the previous month and an increase of 1.2 percent in January 2021.
The top few commodities whose prices increased in January when compared to December included Masoor (6.13 percent), whole gram (4.79 percent), fruits (4.11 percent), gram flour (3.82 percent), gram pulse (3.44 percent), Mash (3.37 percent), wheat (2.68 percent), Moong (1.88 percent), meat (1.78 percent) and rice (1.28 percent). Woolen readymade garments (6.67 percent), solid fuel (5.16 percent), hosiery (1.93 percent), motor fuel (1.75 percent), cleaning and laundering (1.59 percent), washing soap/detergents/match box (1.46 percent) and liquefied hydrocarbons (1.29 percent).
When compared to January 2021, the prices of cooking oil increased by 54.33 percent in January 2022, vegetable ghee by 47.4 percent, mustard oil by 46.68 percent, Masoor by 41.3 percent, fruits by 28.35 percent, whole gram by 24.7 percent, meat by 22.38 percent, chicken by 17.08 percent, gram pulse by 15.67 percent, beans by 15.37 percent, Mash by 12.46 percent and vegetables by 11.58 percent, electricity charges by 56.20 percent, liquefied hydrocarbons by 53.35 percent, motor fuel by 36.22 percent, footwear by 25.47 percent, cleaning and laundering by 22.03 percent, washing soap/detergents/match box by 17.95 percent, motor vehicle accessories by 14.04 percent, woolen readymade garments by 13.03 percent and plastic products by 11.72 percent.
