ISLAMABAD, Pakistan: The Consumer Price Index (CPI) inflation was recorded at 11.1 percent on Year-on-Year (YoY) basis in July 2024 as compared to 12.6 percent in the previous month and 29.4 percent in June 2023.
Whereas the CPI inflation increased to 2.1 percent MoM in July 2024 as compared to an increase of 0.5 percent in June 2024 and an increase of 3.5 percent in July 2023.
CPI for the month of Jul’24 clocked-in at 11.1% YoY (Lowest since Oct’21) compared to 12.6% in Jun’24. @PBSofficialpak @StateBank_Pak #PBS #Inflation #Pakistan #Economy #AHL pic.twitter.com/qiNrczjstm
— Arif Habib Limited (@ArifHabibLtd) August 1, 2024
The top few food commodities which varied on year-on-year basis in July 2024 from corresponding month of previous year i.e. July 2023 were tomatoes 121.81 percent), onions (83.25 percent), pulse gram (39.17 percent), milk powder (30.70 percent), fresh vegetables (30.11 percent), fish (29.97 percent), beans (29.02 percent), besan (26.40 percent), pulse moong (24.36 percent), pulse mash (23.17 percent), dry fruits (21.76 percent), condiments and spices (20.5 percent), meat (19.54 percent), pulse masoor (17.84 percent), beverages (16.96 percent), sweetmeat (14.04 percent), pan prepared (13.37 percent), butter (10.42 percent), milk fresh (10.41 percent), fresh fruits (10.33 percent) and milk products (10.33 percent).
Likewise, the items whose prices witnessed decline included wheat (34.54 percent), wheat flour (32.27 percent), cooking oil (15.47 percent), chicken (10.91 percent), vegetable ghee (10.65 percent), mustard oil (9.04 percent), rice (4.52 percent), wheat products (3.84 percent) and tea (2.72 percent).
The average annual inflation fell to 23.4 percent in the Fiscal 2023-24 ended on June 2024 from 29.2 percent recorded in the previous year.
The significant contributors to the inflation were housing, water, electricity, gas & fuel (35.3 percent), perishable food items (20.8 percent), health (19.8 percent), and clothing & footwear (17.8 percent).
 inflation was recorded at 11.1 percent on Year-on-Year (YoY) basis in July 2024 as compared to 12.6 percent in the previous month and 29.4 percent in June 2023.){kind=link}