Inflation soars to 24.9%, highest in 14 years

Inflation soars to 24.9%, highest in 14 years

F.P. Report

ISLAMABAD: Inflation in the month of July 2022 has reached the historic high at 24.9% on year-on-year basis as prices of electricity soared by 86.7%, ghee 74% and cooking oil by 72.5% when compared to the prices of these commodities in July 2021.

As per the figures provided by the Pakistan Bureau of Statistics (PBS) on Monday, the 24.9% inflation is the highest ever year-on-year rise since November 2008.

In the previous month of June, Consumer Price Index (CPI) inflation remained 21.3% and 8.4% in July 2021. On month-on-month basis, it increased by 4.3% in July 2022 as compared to an increase of 6.3% in the previous month and an increase of 1.3% in July 2021.

According to the PBS, vegetables became 24% more expensive in the month of July when compared to the prices in June. 

In a period of one month, Dal Chana became expensive by 13.8%, onion by 13.6%, potatoes by 10.8% and gram flour by 10%.

In July, wheat prices were increased by 9.75%, Dal Mash by 9.3%, and Dal Masoor by 9%.

In one month, tea prices soared by 8.98%, egg by 8%, and cooking oil by 7.6%.

In the month of July, electricity prices were jacked up by 39.35%. Flour became expensive by 6.3% and ghee by 5%.

In one month, the motor fuel prices were increased by 7.35%.

If compared on year-on-year basis, the motor fuel prices rose by 94.42% in July 2022 as compared to July 2021.

Electricity became 86.7% expensive this year as compared to the last year. Liquefied gas prices rose by 45.6%, stationery 34.8%, Dal Masoor 92.4%, onion 89.4%, mustard oil 81.95%, ghee 74%, cooking oil 72.5%, chick peas 67.4%, chicken 59%, wheat 45%, Dal Chana 43.2%, vegetable 40.4%, fruit 39.2%, gram flour 37.5%, Dal Mash 35.6% and rice prices increased by 31.2% in July 2022 as compared to July 2021.

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