Pakistan Records Highest Inflation in Almost 50 Years

The Pakistan Bureau of Statistics (PBS) on Thursday announced an increase in inflation by 2.4 percent in August 2022 as compared to the last month.

According to the PBS, the general inflation increased by 27.3 percent on year-on-year basis in August 2022 as compared to an increase of 24.9 in the previous month and 8.4 percent in August 2021.

CPI for the month of Aug’22 clocked-in at 27.26% YoY (+2.45% MoM). This takes 2MFY23 average inflation to 26.1% compared to 8.36% in 2MFY22. This is the highest inflation since Nov’1973.@PBSofficialpak @StateBank_Pak #PBS #Inflation #Pakistan #Economy #AHL pic.twitter.com/BW9s8ceiVc
— Arif Habib Limited (@ArifHabibLtd) September 1, 2022

On month-on-month basis, it increased by 2.4 percent in August 2022 as compared to an increase of 4.3 percent in the previous month and an increase of 0.6 percent in August 2021.

The report further highlighted that the inflation in urban areas increased by 26.2 percent on year-on-year basis in August 2022 as compared to an increase of 23.6 percent in the previous month and 8.3 percent in August 2021.

On month-on-month basis, it increased by 2.6 percent in August 2022 as compared to an increase of 4.5 percent in the previous month and an increase of 0.5 percent in Aug 2021.