In December, Inflation Reached 24.5 Pc

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The Consumer Price Index (CPI) for December 2022 showed a year-over-year increase to 24.5%, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.

The report revealed that on a month-to-month (MoM) basis, inflation increased to 0.5% in December 2022 from 0.8% in the previous month.

The PBS reported that in December 2022, “CPI inflation General, jumped to 24.5% on YoY basis,” which was higher than the 12.3% rise reported for December 2021 and the 23.8% increase reported for the prior month.

The bureau said in a news statement that December prices were up 0.5% over the previous month.

The bulk of consumer products remain unaffordable to the general public despite a 2.8% decrease in index movement.

The projected inflation rate of 23-25% by the Ministry of Finance has been met.

In December 2022, PBS reported that consumer price inflation in urban areas had risen to 21.6% from a year earlier, up from the previous month’s increase of 21.6% and December 2021’s increase of 12.7%.

In December 2022, it rose 0.3% from the previous month, up from 0.4% the month before and 0.3% in December 2021.

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