The Consumer Price Index (CPI) based inflation increased to 28.3 percent during January 2024 as compared to the corresponding month of last year.

The inflation had increased to 29.7 percent during last month (December) whereas it was recorded at 27.6 percent during January 2023, according to data released by the Pakistan Bureau of Statistics (PBS) on Thursday.

On a month-on-month basis, the CPI increased to 1.8 percent in January 2024 as compared to an increase of 0.8 percent in the previous month and an increase of 2.9 percent in January 2023.

The urban CPI inflation increased to 30.2 percent on a year-on-year (YoY) basis in January 2024 as compared to an increase of 30.9 percent in the previous month and 24.4 percent in January 2023. On a month-on-month (MoM) basis, it increased to 1.8 percent in January 2024 as compared to an increase of 0.7 percent in the previous month and an increase of 2.4 percent in January 2023.

On the other hand, the rural CPI increased to 25.7 percent on a year-on-year basis in January 2024 as compared to an increase of 27.9 percent in the previous month and 32.3 percent in January 2023. On a month-on-month basis, it increased by 1.9 percent in January 2024 as compared to an increase of 1.0 percent in the previous month and an increase of 3.6 percent in January 2023.

The Sensitive Price Indicator (SPI) based inflation on YoY increased to 36.2 percent in January 2024 as compared to an increase of 35.3 percent a month earlier and 30.5 percent in January 2023. On the MoM basis, it increased by 2.0 percent in January 2024 as compared to an increase of 3.8 percent a month earlier and an increase of 1.3 percent in January 2023.

The Wholesale Price Index (WPI) based inflation on a YoY basis increased to 27.0 percent in January 2024 as compared to an increase of 27.3 percent a month earlier and an increase of 28.5 percent in January 2023. On a MoM basis, it increased by 1.5% in January 2024 as as no change was observed a month earlier and an increase of 1.8% in the corresponding month of last year i.e. January 2023.

Measured by non-food non-energy Urban increased to 17.8% on (YoY) basis in January 2024 as compared to an increase of 18.2% in the previous month and 15.4% in January 2023. On (MoM) basis, it increased by 1.1% in January 2024 as compared to an increase of 0.8% in the previous month, and an increase of 1.4% in the corresponding month of last year in January 2023.

Measured by non-food non-energy rural increased to 24.6% on (YoY) basis in January 2024 as compared to an increase of 25.1% in the previous month and 19.4% in January 2023. On (MoM) basis, it increased by 1.2% in January 2024 as compared to an increase of 0.9% in the previous month, and an increase of 1.5% in the corresponding month of last year in January 2023.