Inflation increases to 13 percent in January

ISLAMABAD: Inflation increased to 13.0% in January 2022 from 12.3% in the previous month and 8% in January 2021, with the Consumer Price Index (CPI) having climbed to its highest level in 22 months, according to the Pakistan Bureau of Statistics (PBS).
According WealthPK, inflation has been rising in recent months owing to a record spike in global oil prices, transportation, and non-perishable food products.
According to the PBS statistics, the prices of fruits, cooking oil, milk, pulses, energy, cotton cloth, motor vehicle accessories, building materials, chemicals, and hosiery goods have increased. The prices of commodities have risen in the international market affecting Pakistan as well because fuel is the country’s primary import, resulting in greater manufacturing and transportation expenses, WealthPK reported.
The Urban CPI inflation increased by 13.0% on a year-on-year basis in January 2022 compared to an increase of 12.7% in the previous month and 5.0% in January 2021. The Urban CPI of January 2022 increased by 0.06% over December 2021 and [increased] by 12.99% over the corresponding month of last year [January 2021].
The top few commodities which varied from the previous month and contributed to Urban CPI are food items like pulse Masoor (6.13%), Gram whole (4.79%), fruits (4.11%), pulse Gram (3.44%), pulse Mash (3.37%), wheat (2.68%), pulse Moong (1.88%), meat (1.78%), rice (1.28%) and non-food items woolen readymade garments (6.67%), solid fuel (5.16%), hosiery (1.93%), motor fuel (1.75%), cleaning & laundering (1.59%), washing soap/detergents/match box (1.46%) and liquefied hydrocarbons (1.29%), WealthPK reported.
On the other hand, the prices of tomato registered a decrease of 42.88%, potato 13.32%, condiments & spices 7.50%, chicken 2.24%, vegetables 1.65%, wheat flour 1.28%, eggs 1.13%, and non-food items electricity charges 2.52% and construction input items 0.08%.
The Rural CPI inflation increased by 12.9% on a year-on-year basis in January 2022 compared to an increase of 11.6% in the previous month and 6.6% in January 2021.
The Rural CPI of January 2022 increased by 0.89% over December 2021 and [increased] by 12.93% over the corresponding month of 2021.
Commodities that varied from the previous month and contributed to Rural CPI are food items like pulse Masoor (6.97%), fruits (6.66%), pulse Gram (4.55%), Gram Whole (4.43%), pulse Mash (4.09%), vegetables (3.64%), eggs (2.69%), pulse Moong (2.66%), Besan (2.25%), meat (2.24%), sugar (1.93%), cooking oil (1.71%), mustard oil (1.54%), rice (0.88%) and non-food items solid fuel (6.65%), cleaning & laundering (2.90%), woolen readymade garments (2.88%), footwear (2.72%), household textiles (2.66%), plastic products (2.60%), stationery (2.10%), motor fuels (2.03%), washing soaps/detergents/match box (1.77%) and hosiery (0.79%).
In contrast, the prices of tomato decreased by 47.89%, potato 12.74%, onion 2.78%, chicken 0.47%, non-food items electricity charges 2.52% and liquefied hydrocarbons 0.19%.
The Sensitive Price Index (SPI) inflation increased by 20.9% in January 2022 compared to an increase of 20.9% a month earlier and an increase of 7.7% in January 2021.
The Wholesale Price Index increased by 24.0% in January 2022 compared to an increase of 26.2% a month earlier and an increase of 6.4% in January 2021. The WPI for January 2022 increased by 0.65% over December 2021 and [increased] by 23.96% over the corresponding month of 2021.
Commodities that varied from the previous month and contributed to the WPI inflation included Jowar (14.19%), fiber crops (11.17%), cereal flour (6.59%), Bajra (6.04%), chemicals (3.71%), wheat (3.32%), milk (3.29%), pulses (2.76%), quilts (2.39%), eggs (2.27%), Motor Spirit (2.18%), Diesel (2.14%), fertilizers (1.87%), kerosene (1.73%), Maize (1.73%), fruits (1.43%), sugar (1.30%) and timber (1.08%). – INP