Pakistan’s headline inflation increased to 12.6% on a year-on-year basis in June 2024 as compared to an increase of 11.8% in May 2024 and 29.4% in June 2023, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
On a month-on-month basis, it increased to 0.5% in June 2024 as compared to a decrease of 3.2% in May 2024 and a decrease of 0.3% in June 2023.
The Ministry of Finance, in its ‘Monthly Economic Update and Outlook’ report, had projected a slightly increased inflation outlook for June 2024 compared to the previous month but forecasted that it will remain well below the levels of the same month last year.
On June 26, AKD Research predicted that headline inflation for June 2024 is expected to rise by 12.55% year-on-year, compared to 11.76% in May 2024.
PBS data shows that Urban CPI inflation increased to 14.9% on a year-on-year basis in June 2024 as compared to an increase of 14.3% in May 2024 and 27.3% in June 2023.
On a month-on-month basis, Urban CPI inflation rose to 0.6% in June 2024 as compared to a decrease of 2.8% in May 2024 and an increase of 0.1% in June 2023.
Rural CPI inflation increased to 9.3% on a year-on-year basis in June 2024 as compared to an increase of 8.2% in May 2024 and 32.4% in June 2023.
On a month-on-month basis, it increased to 0.3% in June 2024 as compared to a decrease of 3.9% in May 2024 and a decrease of 0.8% in June 2023.
SPI inflation on YoY increased to 16.6% in June 2024 as compared to an increase of 15.3% a month earlier and 34.9% in June 2023.
On a MoM basis, it increased by 1.33% in June 2024 as compared to a decrease of 4.0% a month earlier and an increase of 0.2% in June 2023.
The National Consumer Price Index for June 2024 is increased to 0.46% over May 2024 and increased to 12.57% over the corresponding month of the last year i.e. June 2023.
The Wholesale Price Index for June 2024 increased to 0.37% over May 2024. It increased to 10.62% over the corresponding month of the last year i.e. June 2023.
