Feb’24 CPI - Expecting headline inflation of 23.4%YoY , (AKD Daily, Feb 27, 2024)
Feb’24 CPI - Expecting headline inflation of 23.4%YoY
- Headline CPI inflation is expected to clock in at 23.38%YoY/0.3%MoM for the month of Feb’24, compared to the 28.34%YoY/1.83%MoM reported in the earlier month.
- We estimate the Food and beverages index to decline by 1.24%MoM, primarily due to sharp declines witnessed in : i) Eggs (↓33.5%MoM), ii) Tomatoes (↓27.5%MoM), iii) Onions (↓8.02%MoM) and iv) Potatoes (↓5.51%MoM).
- Despite CPI estimates modestly easing for the outgoing month (vs. initial estimate of 24.3%YoY), we expect pricing pressures to remain volatile in the upcoming months.
- With regards to AKD’s estimates, we forecast notable disinflationary pressures (owed to a higher base) to start post April’24, which is when we expect the central bank to move towards its first rate cut of 50-100bps.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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