According to data released by the Pakistan Bureau of Statistics (PBS), inflation as measured by the Consumer Price Index in September stood at 23.18 percent after a marginal decline year on year.
Inflation had reached 27.26 percent last month, the highest level in 49 years. In September last year, the inflation rate was recorded at 9 percent.
Almost all sub-indicators showed an increase in inflation due to double-digit growth in transportation and food prices.
According to the latest data, the inflation rate has come down by 1.15 percent on a monthly basis.
According to PBS, inflation in urban and rural areas has increased annually by 21.2 percent and 26.12 percent, respectively.
Annual Rate of Increase in Inflation
- Transportation: 64.49 percent
- Perishable foods: 50.30 percent
- Alcoholic beverages and tobacco: 32.67 percent
- Restaurants and hotels: 28.81 percent
- Non-perishable foods: 28.76 percent
- Furnishings and home goods repairs: 25.06 percent
- Miscellaneous goods and services: 22.86 percent
- Entertainment and Culture: 22.76 percent
- Clothing and shoes: 17.7 percent
- Health: 13.77 percent
- Education: 9.99 percent
- Housing and utilities: 3.37 percent
- Communication: 1.29 percent
PBS data showed tomato prices rose more than 128 percent year-on-year, followed by pulses by more than 78 percent and motor oil by more than 78 percent. 90% seen in price.
Analysts told Dawn last month that global oil prices have fallen by a third since June, hoping to lower historical inflation.
In September, the Finance Ministry said in its Monthly Economic Update and Outlook that Pakistan was facing a serious economic and humanitarian crisis due to the devastating floods this year.
It said the government is taking immediate steps to mitigate the impact of the rupee devaluation and the agrarian calamity, including curbing price speculation and improving supply by allowing trade with neighboring countries.
It was further stated that while the risk of the effects of the second round of recent inflation still exists, it can also be seen that on a monthly basis in recent years, the month of August shows a positive trend of the weather, however, the inflation rate remains low in September. can stop the recent acceleration of the year