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Pakistan’s Food prices rose 8.4% in August, according to new data

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Pakistan's Food prices rose 8.4% in August, according to new data — Newsline.pk/Files

According to the Consumer Price Index (CPI), the headline or food inflation rate increased 8.4 percent year on year (YoY) in August 2021, compared to an increase of 8.4 percent in the previous month and 8.2 percent in August 2020, according to the Pakistan Bureau of Statistics (PBS) released on Wednesday.

According to a month-to-month comparison, it climbed by 0.6 percent in August 2021, following a 1.3 percent increase the previous month and an increase of 0.6 percent the previous year.

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According to the Consumer Price Index (CPI), inflation in urban areas grew 8.3 percent on an annual basis in August 2021, compared to an increase of 8.7 percent in the previous month and 7.1 percent in the previous year.

From one month to the next, it climbed by 0.5 percent in August 2021, compared to a growth of 1.29 percent the previous month and an increase of 0.8 percent the month before that.

On a year-on-year basis, the CPI inflation rate in rural regions grew 8.4 percentage points in August 2021, compared to an increase of 8 percentage points the previous month and 9.9 percentage points the previous month in August 2020.

From one month to the next, it climbed by 0.7 percent in August 2021, compared to an increase of 1.4 percent the previous month and a decrease of 0.4 percent the month before that.

Inflation, as measured by the Sensitive Price Indicator (SPI), increased 15.9 percent year on year in August 2021, compared to an increase of 16.2 percent in July 2021 and an increase of 11.7 percent in August 2020, respectively.

On a month-to-month basis, it climbed by 0.7 percent in August 2021, compared to an increase of 1.8 percent in July 2021 and a decrease of 0.9 percent in August 2020, respectively.

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On a year-over-year basis, wholesale price index (WPI) inflation grew 17.1 percent in August 2021, compared to an increase of 17.3 percent in July 2021 and an increase of 3.3 percent in August 2020.

According to the World Bank, WPI inflation climbed by 1.2 percent month-on-month in August 2021, compared to an increase of 2.3 percent in July and an increase of 1.3 percent in the comparable month of the previous year.

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