According to the Pakistan Bureau of Statistics, the Consumer Price Index (CPI), which measures inflation on a year-over-year (YoY) basis, increased to 24.5 percent in December 2022. (PBS).
According to the statistics, inflation increased from 0.8% in November 2022 to 0.5% in December 2022 on a month-over-month (MoM) basis.
According to the PBS, general CPI inflation jumped to 24.5% on a year-over-year basis in December 2022, up from 12.3% in December 2021 and a month-over-month rise of 23.8%.
Prices rose 0.5% from November to December, the agency said in a news release.
Most consumer goods continue to be out of most people’s price range despite a 2.8% reduction in index movement.
The inflation rate was within the Ministry of Finance’s range of predictions (23% to 25%).
According to PBS, CPI inflation in urban areas increased from 21.6% in December 2021 and 12.7% in December 2022 to 21.6% on an annual basis.
On a month-over-month basis, it grew to 0.3% in December 2022, up from 0.4% the month before and 0.3% in December 2021.