Pakistan’s Consumer Price Index (CPI)-based inflation increased to a historic high of 35.4% on a year-on-year (YoY) basis in March 2023 as compared to an increase of 31.6% in February 2023 and 12.7% in March 2022.
At 35.4%, this is the highest inflation reading recorded in Pakistan since April 1965 when the same metric was first recorded.
This is the second consecutive month that Pakistan has faced record-breaking (CPI) inflation. February’s CPI of 31.6% was also the highest inflation reading back then.
According to Arif Habib Limited (AHL), this is the highest YoY inflation since the available data i.e. July 1965. This takes 9MFY23 average inflation to 27.3% compared to 10.8% in 9MFY22.
CPI inflation (Urban)
CPI for the month of Mar’23 clocked in at 35.4% YoY (+3.7% MoM). This is the highest YoY inflation since the available data i.e. July 1965. This takes 9MFY23 average inflation to 27.3% compared to 10.8% in 9MFY22.@PBSofficialpak @StateBank_Pak#Inflation #Pakistan #Economy #AHL pic.twitter.com/JaXWJUP8IW
— Arif Habib Limited (@ArifHabibLtd) April 1, 2023
CPI inflation (Rural)
CPI inflation (Rural) increased to 38.9% on a year-on-year basis in March 2023 as compared to an increase of 35.6% in the previous month and 13.9% in March 2022. On a month-on-month basis, it increased to 3.5% in March 2023 as compared to an increase of 4.0% in the previous month and an increase of 1.0% in March 2022
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