ISLAMABAD: The Consumer Price Index (CPI) based inflation increased by 13 percent on a year-on-year basis in January 2022 as compared to an increase of 12.3 percent in December 2021 and 5.7 percent in January 2021.
According to the data released by Pakistan Bureau of Statistics (PBS) on Tuesday, the inflation rate, driven by energy and food prices, on a month-on-month basis, increased by 0.4 percent in January as compared to a decrease of 0.02 percent in the previous month as well as in January 2021.
The CPI inflation Urban increased by 13.0 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 5.0 percent in January 2021. On a month-on-month (MoM) 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 Rural 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 an MoM 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 SPI inflation year-on-year 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 an 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 WPI inflation on YoY basis increased by 24.0 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 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.
The core inflation measured by non-food non-energy (NFNE) Urban increased by 8.2 percent on YoY basis in January 2022 as compared to an increase of 8.3 percent in the previous month and 5.4% in January, 2021. On MoM basis, it increased by 0.8 percent in January, 2022 as compared to increase of 1.1 percent in previous month, and an increase of 0.9 percent in corresponding month of last year i.e. January 2021.
The core inflation measured by NFNE Rural increased by 9.0 percent on YoY basis in January 2022 as compared to an increase of 8.9 percent in the previous month and 7.8 percent in January, 2021. On 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 i.e. January, 2021.
Prices of food products, such as cooking oil increased by 54.33 percent, vegetable ghee 47.4 percent, mustard oil 46.68 percent and pulse Masoor 41.3 percent, when compared with the corresponding month of the previous year i.e. January 2021.
“Food inflation was the highest recorded since April 2021 when it rose to 15.9 percent. We attribute this to higher transportation cost and higher global food & commodity prices,” a report by Karachi-based brokerage house Topline Securities said.
Housing, water, electricity and fuel index, which contribute around 24 percent weightage to the CPI, rose by 15.5 percent in January 2022, compared to an increase of 16.6 percent in December 2021.
The price of electricity increased by 56.20 percent, liquefied hydrocarbons by 53.35 percent and motor fuel by 36.22 percent, when compared with the same period of last year.
