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Pakistan’s Inflation Soars to 5.8 Percent in July

 Thursday, August 2, 2018  |  No Comments

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Islamabad:

Pakistan’s Inflation Soars to 5.8 Percent in July


Pakistan’s Consumer Price Index (CPI) inflation soared to 5.8 percent in July, up from 5.2 percent in the previous month, thus registering a nearly four-year high.

The current inflation rate, although less than figures estimated for the current fiscal, was fuelled by a rise in food inflation, recovery in global commodity prices including oil, consolidating domestic demand and depreciation of the rupee, The Dawn reported.

On an annual basis, the food inflation was up 3.5 percent, and 0.6 percent on a monthly basis.

The prices of non-perishable food items saw a marginal hike of 0.34 percent, while that of perishable products increased by 2.3 percent during the month.

Non-food inflation increased 7.4 percent annually and 1.2 percent on a monthly basis, on account of an increase in oil prices and the impact of a drop in exchange rates on consumers.

Meanwhile, core inflation was recorded at 7.6 percent annually and 1.2 percent on a monthly basis, excluding volatile food and energy prices.

(Minimal edits applied, story generated from syndicated ANI feed)
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