The September CPI is 31.4% YoY
In September 2023, the consumer price index (CPI) was 31.4% YoY, up from 27.4% YoY in the previous month and 23.2% YoY in September 2022, according to the most recent statistics released by the Pakistan Bureau of Statistics (PBS) on Monday.
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The prior month's increase in the CPI was 1.7%, so this month's increase is 2% sequentially.
The market's expectations were met by the inflation figures, which were projected to settle between 30.54% and 31.6% in September, with an average estimate of about 31% YoY.
September 2023 saw an increase in year-over-year inflation in the Urban Consumer Price Index (CPI) to 29.7%, up from 25.0% in September 2022 and 21.2% the prior month.
In a similar vein, it went up to 1.7% MoM in September 2023 from 1.6% in the previous month and 2.1% down in September 2022.
In addition, the September 2023 Rural CPI inflation increased to 33.9% YoY from 30.9% in the previous month and 26.1% in September 2022. September 2023 had a month-over-month gain of 2.5%, compared to 1.9% in the previous month and 0.2% in September 2022.
September 2023 saw a year-over-year increase in the Sensitive Price Index (SPI) inflation to 32%, from 27.9% in the previous month and 28.6% in September 2022.
In September 2023, there was a 1.7% month-over-month gain, as opposed to a 4.2% growth in the previous month and a significant 1.4% increase in September 2022.
In addition, the Wholesale Price Index (WPI) had a YoY increase in September 2023 of 26.4%, up from the previous month's 24.3% increase and down from the August 2022 spike of 38.9%.
September 2023 saw a 3.1% sequential increase, while September 2022 saw a 1.4% increase and September 2022 saw a 4.2% increase.
