Inflation hits 23 months high at 12.3% thumbnail

Inflation hits 23 months high at 12.3%

The Pakistan Bureau of Statistics (PBS) has revealed that inflation in the country has hit a 23 month high at 12.3%. The PBS on Saturday released CPI data on year-on-year basis for December 2021.

It is the second consecutive month that the country has recorded inflation in double digits, SAMAA TV’s Shakeel Ahmed says.

In November 2021, CPI inflation was recorded at 11.5%, while in February 2020 the CPI inflation was reported at 12.4% by the PBS.

Now the inflation has peaked to almost the same level after 23 months.

In December 2021, the CPI inflation for urban areas was 12.7% and for rural areas 11.6%. 

Consumer Price Index (CPI) is the main measure of price changes at the retail level. CPI measures changes in the cost of buying a representative fixed basket of items and is generally accepted as a measure of inflation in the country, according to PBS.

CPI tells how much the cost of living has increased or decreased to price changes irrespective of changes in consumer behaviour or quality of goods.

PBS data shows that in one year, cooking oil became 59% expensive, ghee 56%, mustard oil 53%, lentils 36%, electricity 84%, LPG 68%, shoes 50%, petrol more than 35% and diesel 27% expensive.

Prices of tomatoes, lentils, onions, eggs and potatoes have come down.

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