Islamabad, Dec 2: According to the Pakistan Bureau of Statistics (PBS), the country’s Consumer Price Index (CPI)-based inflation rate decreased to 4.9 percent in November 2024 on an annual basis, down from 7.2 percent in the previous month and 29.2 percent in November 2023.
This is the lowest reading in 78 months, or 6.5 years, according to Topline Securities. In November 2024, CPI inflation in Urban fell to 5.2 percent year-over-year, down from 9.3 percent the month before and 30.4 percent in November 2023. Compared to November 2023, when it climbed by 4.3 percent, and November 2024, when it increased by 1.1 percent, it increased by 0.5 percent every month.
November 2024 had a 4.3 percent year-over-year increase in CPI inflation in rural areas, up from 4.2 percent the month before and 27.5 percent in November 2023. Comparing November 2024 to November 2023, it grew by 0.5 percent month over month, compared to 1.5 percent the month before and 0.4 percent in November 2023.
In November 2024, SPI inflation on a year-over-year basis dropped to 7.3 percent from 9.7 percent the previous month and 30.6 percent in November 2023. In November 2024, it grew by 1.0 percent on a month-over-month basis, compared to a 3.3 percent gain in November 2023 and a 0.6 percent increase the previous month.
In November 2024, WPI inflation fell to 2.3 percent on a year-over-year basis, down from 3.9 percent the previous month and 26.4 percent in November 2023. On a month-over-month basis, it fell by 0.1 percent in November 2024 compared to 1.4 percent in the same month last year, November 2023, and no change in the month before.
In November 2024, the non-food, non-energy urban core inflation rate (NFNE), which was 8.6 percent the month before and 18.6 percent in November 2023, rose to 8.9 percent on a year-over-year basis. It grew by 1.2 percent on a month-over-month basis in November 2024, compared to 0.6 percent the month before and 0.9 percent in the same month the year before, November 2023.
Compared to 11.7 percent in November 2023 and 25.9 percent in November 2024, rural populations fell to 10.9 percent on a year-over-year basis in November 2024. Comparing November 2024 to the prior month, it stayed constant at 0.7 percent on a MoM basis. A rise of 1.4% from November 2023, the same month the previous year.
Trimmed core inflation
In November 2024, Urban’s YoY growth rate, as measured by a 20 percent weighted trimmed mean, was 7.5 percent, up from 6.4 percent the month before and 22.9 percent in November 2023. On a month-over-month basis, it grew by 0.6 percent in November 2024, compared to 0.7 percent the month before and 0.1 percent in the same month the year before, November 2023.
In November 2024, Rural’s YoY growth rate, as measured by a 20 percent weighted trimmed mean, was 7.8 percent, up from 7.2 percent the month before and 27.9 percent in November 2023. On a month-over-month basis, it grew by 0.5 percent in November 2024, compared to 1.0 percent in the month before and 0.5 percent in the same month the year before, November 2023.
