CPI inflation at 11.1 percent

The Pakistan Bureau of Statistics (PBS) said on Thursday that the Consumer Price Index (CPI)-based inflation rate decreased to 11.1 percent in July 2024 from 12.6 percent in June 2024.

PBS data indicates that in July 2023, the CPI-based inflation rate was 28.3% for the same month the previous year.

It grew by 2.1% month over month in July 2024 as opposed to 3.5% in July 2023 and 0.5% in the preceding month.

Based on available data, the annual percentage rate of CPI inflation in Urban areas increased to 13.2% in July 2024 from 14.9% in the previous month and 26.3% in July 2023. In July 2024, it rose to 2.0% on a monthly basis.