Inflation in Pakistan jumps to 'double' digits after six years

ISLAMABAD (92 News) – Annual inflation rate (CPI inflation General) in Pakistan increased by 10.3 per cent on year-on-year basis in July, 2019 as compared to an increase of 8.9 per cent in the previous month and 5.8pc in July 2018. According to statistics released by the Pakistan Bureau of Statistics (PBS), on month-on-month basis, it increased by 2.3% in July 2019 as compared to an increase of 0.4% in the previous month and an increase of 0.9% in corresponding month i.e. July 2018. Core inflation measured by non-food non-energy CPI (Core NFNE) increased by 7.8% on (YoY) basis in July 2019 as compared to an increase of 7.2% in the previous month and 7.6% in July 2018. The prices of cooking oil went up by 8.5%, milk 5.24% and petrol 22.56% in the month of July this year. On (MoM) basis, it increased by 1.7% in July 2019 as compared to an increase of 0.3% in previous month, and an increase of 1.2% in corresponding month of last year i.e. July 2018. Core inflation, measured by 20% weighted trimmed mean CPI (Core Trimmed) increased by 8.0% on (YoY) basis in July 2019 as compared to 7.3% in the previous month and by 5.9% in July 2018. On (MoM) basis, it increased by 1.7% in July 2019 as compared to an increase of 0.4% in the previous month and an increase of 0.9% in corresponding month of last year i.e. July 2018. 4. The CPI by Income Quintiles and Commodity Groups for July 2019 (MoM and YoY) is placed at Annexure-C. SPI inflation on YoY basis increased by 12.2% in July 2019 as compared to an increase of 10.6% a month earlier and an increase of 3.6% in July 2018. On MoM basis, it increased by 2.6% as compared to an increase of 1.6% in the previous month and an increase of 1.2% in corresponding month of last year i.e. July 2018. WPI inflation on YoY basis increased by 13.5% in July 2019 as compared to an increase of 12.7% a month earlier and an increase of 10.5% in July 2018. WPI inflation on MoM basis increased by 3.1% in July 2019 as compared to an increase of 0.3% a month earlier and an increase of 2.4% in corresponding month of last year i.e. July 2018.