Inflation rises above 24% in December YoY

Amid the soaring prices of essentials, the Consumer Price Index (CPI)-based inflation in Pakistan rose above the 24% mark in December 2022 on a year-on-year basis, 24NewsHD TV channel on Monday. 

According to the Pakistan Bureau of Statistics (PBS) report, the 

inflation reached 24.5% in December compared to the corresponding period last year when it had clocked in at 12.3%.

On a month-on-month basis, inflation jumped by 0.5% in December compared to November 2022, when it was recorded at 0.8%. 

During December 2023, onion, wheat, eggs, and daily commodities of life remained out of public access due to high prices. 

Fruits became expensive by 13.3%, onions by 9.9%, and eggs by 9.7% in a month. Wheat rose by 9.45% in December, Flour went up by 3.6%, and sugar by 3.1% in December. Ironically, wheat has gone up by 57.2% in one year, according to the Bureau of Statistics. Dry fruit prices also went up by 8.8%, rice by 5.8%, and chicken by 5.4%. 

Onion prices increased by 414.98% in December 2022 compared to December 2021. 

Eggs 54.3, gram 53.1, and 46.6 percent more expensive in one year, PBS said. 

Besan 46.4%, gram dal 45.2%, and chicken 43.7% have gone expensive in one year. 

In one year, the price of flour increased by 40.5% and dal mash by 38.2%, according to PBS. Ghee went up by 30%, cooking oil by 31.9%, and petroleum products by 49.5%. 

Reporter: Waqas Azeem