Pakistan records highest ever inflation in May 2023 with 38%

Economic PerformancePakistan records highest ever inflation in May 2023 with 38%

By Mati Ullah Khan

ISLAMABAD, Pakistan: The Consumer Price Index (CPI) jumped to 38.0 percent on Year-on-Year (YoY) basis in May 2023, registering the highest ever inflation in the history of Pakistan.

   

The latest statistics released by the Pakistan Bureau of Statistics (PBS) revealed that the monthly CPI inflation increased to 38.0% on YoY basis in May 2023 as compared to an increase of 36.4% in the previous month (April 2023) and 13.8% in May 2022.

The data stated that on Month-on-Month (MoM) basis, the CPI inflation increased to 1.6% in May 2023 as compared to an increase of 2.4% in April 2023 and an increase of 0.4% in May 2022.

In April 2023, the YoY CPI inflation was witnessed as 36.4 percent in Pakistan which was marginally above 35.4 percent in March 2023.Pakistan records highest ever inflation in May 2023 with 38%

As per the Monthly Economic Outlook report for May 2023, the average inflation stood at 28.2 percent in first 10 months of Fiscal Year 2022-2023 (July-April) as against 11.0 percent recorded in the same period of last FY.

CPI Inflation (YoY) in Pakistan since PML-N led PDM government took over in April 2022;

Month/Year
CPI Inflation (YoY)
April 202213.4%
May 202213.8%
June 202221.3%
July 202224.9%
August 202227.3%
September 202223.2%
October 202226.6%
November 202223.8%
December 202224.5%
January 202327.6%
February 202331.5%
March 202335.4%
April 202336.4%
May 202338.0%

Source: https://www.pbs.gov.pk/sites/default/files/price_statistics/cpi/CPI_Review_May_2023.pdf

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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