July 01, 2024 (MLN): The consumer price index (CPI) for June 2024 clocked in at 12.6% YoY, compared to 11.8% YoY in the last month and 29.4% YoY in June 2023, the latest data issued by the Pakistan Bureau of Statistics (PBS) on Monday showed.
On a monthly basis, CPI rose 0.5% in June 2024 as compared to a decrease of 3.2% in the previous month and a decrease of 0.3% in June 2023.
Accordingly, this takes the average yearly inflation of FY24 to 23.4% YoY compared to 29.2% YoY in FY23.
The average core inflation, measured by non-food non-energy, rose 14.1% YoY in June 2024 as compared to an increase of 14.2% YoY in the previous month and an increase of 21.2% YoY in June 2023.
On a monthly basis, average core CPI increased 0.7% in June 2024 as compared to an increase of 0.4% in the previous month and an increase of 0.8% in June 2023.
| Metric | Jun-24 | May-24 | Jun-23 | FY24 | FY23 |
|---|---|---|---|---|---|
| CPI MoM | 0.5% | -3.2% | -0.3% | 1.0% | 2.2% |
| CPI YoY | 12.6% | 11.8% | 29.4% | 23.4% | 29.2% |
| Core CPI MoM | 0.7% | 0.4% | 0.8% | 1.1% | 1.6% |
| Core CPI YoY | 14.1% | 14.2% | 21.2% | 18.9% | 17.8% |
With the CPI-based inflation rate at 12.6% and the policy rate at 20.5%, the real interest now stands at 7.9%.