According to the Monthly Price Index Review released by the Pakistan Bureau of Statistics (PBS), Inflation rose to a 21-month high in November-2021, rising 11.5 percent year on year compare to 9.2 percent in October-2021
The report showed that consumer inflation in the country accelerated rapidly in November as a result of rising food and energy prices. The consumer price index (CPI) had previously peaked at 12.40% in February 2020.
The report also acknowledged that high inflation and pressure from the external sector were one of the biggest challenges facing the current government in the face of accelerating global inflation.
“External pressures are largely starting to materialize due to the impact of increased economic activity, an expanding macroeconomic policy mix and higher global commodity prices,” the Ministry of Finance said in its monthly economic review and outlook.
The data shows that the consumer price index rose 3% over the month. It was also the highest inflation since May last year, with the CPI at 10.9% compared to five-month inflation (5MFY2022), up from 8.8% in the same period last year.
The core consumer price index also rose in urban and rural areas. According to the data, core inflation in cities was 7.6% year-on-year in November 2021 and 8.2% in rural areas, up from 6.7% in both urban and rural areas in October.
The data shows that the prices of food and other products, including eggs, cooking oil, ghee, wheat, wheat flour, vegetables, legumes, electricity and petroleum products, rose significantly over the period under review.
In addition, the Sensitive Price Index (SPI) rose 18.1 percent year on year in November 2021 from 15.2 percent in the previous year and 9.9 percent in November 2020.
The Wholesale Price Index (WPI) rose 27 percent year-on-year in November 2021, up 21.2 percent from the previous month and 5 percent in November 2020.
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