June 21, 2022. We look into the countrys inflation rate history and factors that affect price growth as well as the latest analysts predictions. Pakistan inflation rate slowed for the first time in seven months to 23.2% in September of 2022 from 27.3% in August which was the highest reading since May of 1975. The report said that due to the decline in imports, Pakistan's current account deficit has been reduced. The Laspeyres formula is generally used. In addition to CPI, PBS produces the weekly Sensitive Price Indicator (SPI) and the Wholesale Price Index (WPI). statistic alerts) please log in with your personal account. Inflation is defined as an increase in the cost of goods and services. Country: Updated: Actual: (% GDP), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. The average rate for all items during this period was 8.7% while coincidentally the rates of price increases for food (10.0%), energy (35.5%), and used cars and trucks (15.3%) outdistanced price movements for other items on average. The material provided on this website is for information purposes only and should not be understood as an investment advice. In Pakistan, most important categories in the consumer price index are food and non-alcoholic beverages (35 percent of total weight); housing, water, electricity, gas and fuels (29 percent); clothing and footwear (8 percent) and transport (7 percent). The slightly-higher than targeted CPI reading prompted the State Bank of Pakistan (SBP), the countrys central bank, to hike its policy rate by 25 basis point (bp) to 7.25% in September 2021. API users can feed a custom application. Meanwhile, prices rose at a slower pace for transport (53.43% vs 64.5%). The size of the potential loss is limited to the funds held by us for and on your behalf, in relation to your trading account. The floods damaged agricultural lands, destroying wheat, cotton and rice crops, which inflated food prices in the domestic market, even in areas spared by the floods, according to the United Nations Office for the Coordination of Humanitarian Affairs (UN OCHA) note as of 16 September. The Pakistan central bank has raised its policy rate by a total of 800bp since September 2021 to 15% in August 2022 in an effort to combat inflation and cool the country's overheating economy. Inflation rate in Pakistan was 23.2% in September 2022. The Government of Pakistan has set the inflation rate target for fiscal year 2022/2023 at 11.5%, an increase from 8% in 2021/2022. Since the floods started in mid-June, they have killed 1,700 people and 1.16 million livestock, as of 8 October, according to the data from Pakistans National Disaster Management Authority (NDMA). inflation in uzbekistan 2022. Private Company. On a monthly basis, consumer prices increased 4.71% in October, rising sharply from a 1.2% downtick in the previous month. Pakistans main food crops are wheat, rice, sugarcane and maize, with the first two being the most consumed staples by Pakistanis. The Trading Economics Application Programming Interface (API) provides direct access to our data. A decrease in the prices of vegetables, pulses,. Over the past three years, most indices have shown a two-digit inflation rate during the 2018-2021 periods, compared to the one low digit held by PML-N during the 2015-18 periods. Past profits do not guarantee future profits. The price of rice has surged by 80% since January in some parts of the country. The countrys CPI basket has 487 items. "Pakistan: Inflation rate from 1987 to 2027 (compared to the previous year)." Inflation continued to climb, reaching 21.3% in June 2022 and peaking at 27.3% in August, before easing to 23.2% in September. Meanwhile, prices rose at a slower pace for transport (53.43% vs 64.5%). Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal, Show sources information April 19, 2022. facts. The unemployment rate in Pakistan is predicted by the IMF report to increase by 1.5% during the current fiscal year. The strengthening USD, continued through the US Federal Reserves (Fed) aggressive monetary tightening, has accelerated PKRs depreciation. Accessed November 09, 2022. https://www.statista.com/statistics/383760/inflation-rate-in-pakistan/, IMF. API users can feed a custom application. Surging food prices were the result of devastating floods that killed 1,700 people and disrupted agricultural production. Pakistan Economic Outlook. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. To learn more about cookies, click here. Last month, inflation rate for Pakistan was 27.4 %. Trading Economics Pakistan inflation rate forecast suggested the countrys CPI could reach 23% by the end of this quarter. Profit from the additional features of your individual account. and over 1Mio. The description is composed by our digital data assistant. On the other hand, faster price increases were seen for transport (64.5% vs 63.1%), namely motor fuel (87% vs 84.2%); food and non-alcoholic beverages (31.7% vs 29.5%); restaurants and hotels (28.8% vs 27.4%); and alcoholic beverages and tobacco (32.7% vs 25.8%). Pakistan's inflation rates forecasted at 11.0% in 2022 and 8.5% in 2023 - ADO 2022 Per capita GDP growth for Pakistan is expected at 2.0% in 2022 and 2.4% in 2023 - ADB Report GDP growth Inflation GDP per capita Current account balance Download data: GDP Growth Comparative economic forecasts If you continue to navigate this website beyond this page, cookies will be placed on your browser. Agriculture production has a significant contribution, too. Rising prices of perishable food items such as meat, dairy and eggs, as well as rising global commodity prices fuelled by the armed conflict between Russia and Ukraine, contributed to higher inflation in the third quarter. The Government of Pakistan has set the inflation rate target for fiscal year 2022/2023 at 11.5%, an increase from 8% in 2021/2022. Main upward pressures came from prices of housing & utilities (11.92% vs 3.4% in September), food & non-alcoholic beverages (36.2% vs 31.7%), restaurants & hotels (30.4% vs 28.8%), alcoholic beverages & tobacco (34.63 vs 32.7%). Pakistan inflation rate increased to 26.6% in October of 2022 from 23.2% in the previous month. Advanced users can use our Python/R/Matlab packages. Be the first to respond. Pakistan's inflation rate stood at 9.7 percent in 2020 while it remained at 6.6 percent in India, 5.7 percent in Bangladesh and 6.2 percent in Sri Lanka. Figure 2 presents selected inflation data from April through June of 2022. Risk warning: onducting operations with non-deliverable over-the-counter instruments are a risky activity and can bring not only profit but also losses. The Asian Development Bank (ADB) estimates that inflation in Pakistan will remain at 10.7 per cent in 2020 and is expected to decline to 7.5 per cent in 2021. The State Bank of Pakistan on Friday raised its policy rate by 150 basis points to 8.75%, stating that "risks related to inflation and the balance of payments have increased while the outlook . Shahbaz Rana June 02, 2021. Inflation rate of Pakistan increased from 9 % in September 2021 to 27.4 % last month growing at an average annual rate of 11.62%. Food inflation which occupies 34.58 weightage in the CPI basket, averaged 8.03 percent from 2011 until 2022, reaching an all-time high of 36.2 percent in October 2022 and a record low of negative . 243: Inflation Rate YoY in other countries. As the floodwaters receded and the current inflation rate in Pakistan eased, what do analysts forecast for the countrys inflation in 2022 and beyond? The inflation rate eased to 5.65 per cent in January, the Pakistan Bureau of Statistics (PBS) said on Monday, from 8pc the previous month. After the decline in Corona, there is a possibility of economic recovery in Pakistan. That could prompt the central bank to tighten monetary policy even more aggressively to anchor inflation expectations., Your comment is awaiting moderation (usually it takes 1 hour), The difference between trading assets and CFDs. Please do not hesitate to contact me. Pakistan inflation rate increased to 26.6% in October of 2022 from 23.2% in the previous month. Fitch Solutions revised its Pakistan inflation rate in 2022/2023 to average 25% from previously 20% amid a decrease in agricultural production to further fuel inflationary pressures. Pakistan inflation rate slowed for the first time in seven months to 23.2% in September of 2022 from 27.3% in August which was the highest reading since May of 1975. This translates into an increase of 11.53 per cent. Everyone in society is affected by inflation. Main upward pressures came from prices of housing & utilities (11.92% vs 3.4% in September), food & non-alcoholic beverages (36.2% vs 31.7%), restaurants & hotels (30.4% vs 28.8%), alcoholic beverages & tobacco (34.63 vs 32.7%). This page provides - Pakistan Core Inflation Rate - actual values, historical data . To use individual functions (e.g., mark statistics as favourites, set On a monthly basis, consumer prices increased 4.71% in October, rising sharply from a 1.2% downtick in the previous month. To find a higher rate, you'd have to go back to the third . This decrease, it added, would be . Overall, the price increase was 11,207.52%. The annual inflation rate in Pakistan increased to 27.3% in August of 2022, the highest since May of 1975, from 24.9% in July, and figures could go even higher as deadly floods hit the country. The higher food inflation rate was driven by an uptick in prices of Cooking Oil (up 54% YoY), Pulse Masoor (up 41% YoY), Meat (up 22% YoY), and Wheat (up 15.8% YoY). Capital Com is an execution-only service provider. In, IMF. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. Most Recent Value Pakistan 2021 9.5 All Countries and Economies Country Most Recent Year Most Recent Value Afghanistan 2019 2.3 Albania 2021 2.0 Algeria 2021 7.2 American Samoa Andorra Angola 2019 17.1 Antigua and Barbuda 2021 2.1 Argentina Armenia 2021 7.2 Aruba 2019 4.3 Australia 2021 2.9 Austria 2021 2.8 Azerbaijan 2021 6.7 Bahamas, The 2021 2.9 International Monetary Fund, International Financial Statistics and data files. Pakistans inflation rate eased to 23.2% in September, from 27.3% in August, the first decline in seven months since the South Asian country was ravaged by one of the worst floods in its history. Inflation Monitor (New Base: 2015-16) - March, 2022 Inflation Monitor (New Base: 2015-16) - February, 2022 Inflation Monitor (New Base: 2015-16) - January, 2022 : Home About SBP Publications Economic Data Press Releases Circulars/Notifications: Laws & Regulations Monetary Policy Help Desk SBP Videos SBP Welfare Trust There are currently no responses for this story. Pakistan - Consumer price inflation. Islamabad November 1 2022: CPI inflation General, increased to 26.6% on year-on-year basis in Oct 2022 as compared to an increase of 23.2% in the previous month and 9.2% in Oct 2021, according to data released by Pakistan Bureau of Statistics. Currently, you are using a shared account. The S&P 500 rose 21.31, or 0.6%, to 3,828.11, though it flipped between . Standard users can export data in a easy to use web interface or using an excel add-in. Till October 2021, the rate of inflation stood at 9.2 percent in Pakistan while it was hovering around 5.3 percent in India, 5.6 percent in Bangladesh and 7.6 percent in Sri Lanka. Compared to the previous month, consumer prices were up 2.4%. Trading Economics welcomes candidates from around the world.
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