Cities are decked with spectacular illumination around shopping malls, major streets, and side lanes as Eid shopping begins. Despite growing inflation, there is a lot of hustle in commercial areas.
But do you know how much higher we are paying for everything this year, from food to clothing, than we did last year?
Undoubtedly, the PTI-led government struggled to contain inflation, which experts said, was the outcome of record-high global commodity prices and 51 per cent devaluation of the Pakistani rupee (PKR).
In January 2022, inflation climbed by 13 per cent year on year basis compared to 12.3 per cent in the previous month and 5.7 per cent in January 2021. It is pertinent to mention that inflation reached an all-time high of 14.6 per cent in January 2020.
The Consumer Price Index (CPI) accelerated in March 2022 over the same month a year ago, according to the inflation bulletin released by the Pakistan Bureau of Statistics (PBS). The index remained higher compared to the preceding month during five out of the past six months.
Inflation Comparison – January 2022
General CPI inflation, increased by 13.0 per cent on a year-on-year basis in January 2022 as compared to an increase of 12.3 per cent in the previous month and 5.7 per cent in January 2021. On a month-on-month basis, it increased by 0.4 per cent in January 2022 as compared to decrease of -0.02 per cent in the previous month and a decrease of -0.2 per cent in January 2021.
Urban CPI inflation, increased by 13.0 per cent on a year-on-year basis in January 2022 as compared to an increase of 12.7 per cent in the previous month and 5.0 per cent in January 2021. On a month-on-month basis, it increased by 0.1 per cent in January 2022 as compared to an increase of 0.3 per cent in the previous month and a decrease of -0.2 per cent in January 2021.
Rural CPI inflation, increased by 12.9 per cent on a year-on-year basis in January 2022 as compared to an increase of 11.6 per cent in the previous month and 6.6 per cent in January 2021. On a month-on-month basis, it increased by 0.9 per cent in January 2022 as compared to a decrease of -0.5 per cent in the previous month and a decrease of -0.3 per cent in January 2021.
Wholesale Price Index (WPI) inflation on a year-on-year basis increased by 24.0 per cent in January 2022 as compared to an increase of 26.2 per cent a month earlier and an increase of 6.4 per cent in January 2021. WPI inflation on a Month-on-month basis increased by 0.6 per cent in January 2022 as compared to a decrease of -0.2 per cent a month earlier and an increase of 2.5 per cent in a corresponding month i.e. January 2021.
Urban Consumer Price Index (UCPI)
The Urban Consumer Price Index of January 2022 increased by 0.06 per cent over December 2021 and increased by 12.99 per cent over the same month of the last year (January 2021).
Month-on-Month Inflation
Main contributors to month-on-month and year-on-year percentage changes are mentioned below:
Increase in prices of food items: Pulse Masoor (6.13 per cent), Gram whole (4.79 per cent), Fruits (4.11 per cent), Besan (3.82 per cent), Pulse Gram (3.44 per cent), Pulse Mash (3.37 per cent), Wheat (2.68 per cent), Pulse Moong (1.88 per cent), Meat (1.78 per cent) and Rice (1.28 per cent).
Increase in prices of garments and other items: Woolen Readymade Garments (6.67 per cent), Solid Fuel (5.16 per cent), Hosiery (1.93 per cent), Motor Fuel (1.75 per cent), Cleaning & Laundering (1.59 per cent), Washing soap/Detergents/Match Box (1.46 per cent) and Liquefied Hydrocarbons (1.29 per cent).
Year-on-Year Inflation – January 2021
Edible items
Increased: Cooking Oil (54.33 per cent), Vegetable Ghee (47.4 per cent), Mustard Oil (46.68 per cent), Pulse Masoor (41.3 per cent), Fruits (28.35 per cent), Gram Whole (24.7 per cent), Meat (22.38 per cent), Chicken (17.08 per cent), Pulse Gram (15.67 per cent), Beans (15.37 per cent), Pulse Mash (12.46 per cent) and Vegetables (11.58 per cent).
Garments and others
Increased: Electricity Charges (56.20 per cent), Liquefied Hydrocarbons (53.35 per cent), Motor Fuel (36.22 per cent), Footwear (25.47 per cent), Cleaning & Laundering (22.03 per cent), Washing soap/Detergents/Match Box (17.95 per cent), Motor Vehicle Accessories (14.04 per cent), Woolen Readymade Garments (13.03 per cent) and Plastic Products (11.72 per cent).
Year-on-Year Inflation – March 2022
CPI National for the month of March, 2022 increased by 12.72 per cent over March, 2021. The Urban CPI recorded an increase of 11.94 per cent while Rural CPI recorded an increase of 13.88 per cent.
Edible items in urban areas
Increased: Tomatoes (148.65 per cent), Mustard Oil (59.91 per cent), Vegetable Ghee (49.56 per cent), Cooking Oil (48.05 per cent), Pulse Masoor (38.32 per cent), Vegetables (34.92 per cent), Fruits (32.00 per cent), Gram whole (25.37 per cent), Meat (23.68 per cent), Chicken (19.59 per cent) and Beans (13.62 per cent).
Edible items in rural areas
Increased: Tomatoes (158.82 per cent), Cooking Oil (63.47 per cent), Mustard Oil (57.2 per cent), Vegetable Ghee (56.43 per cent), Vegetables (45.62 per cent), Fruits (37.80 per cent), Pulse Masoor (37.46 per cent), Meat (25.19 per cent), Beans (17.38 per cent), Wheat Flour (16.22 per cent), Chicken (15.09 per cent) and Tea (11.74 per cent).
