Pakistan inflation highest in over 13 years

Inflation in Pakistan rose to 21.32 per cent in June, the highest in over 13 years, data shared by the Pakistan Bureau of Statistics (PBS) revealed on Friday.
Last month, inflation was recorded at 13.76 pc. In June, inflation rose 6.34 pc month-on-month (MoM) and 21.32 pc year-on-year (YoY), which was the highest figure since December 2008 when inflation stood at 23.3 pc, reports Dawn.
According to the PBS, inflation increased by 19.84 pc in urban areas and 23.55 pc in rural areas.
Multiple sectors witnessed double-digit inflation but the trend was driven largely by transport, which saw a 62.17 pc rise and perishable food items, prices of which increased by 36.34 pc.
Education and communication were the only two sectors where inflation was in the single digits at 9.46 pc and 1.96 pc, respectively.
The PBS press statement , while detailing the rise in non-food-related commodities, showed that motor fuel, liquefied hydrocarbons and electricity charges saw massive increases year-on-year, with motor fuel prices rising by at least 95 pc.
According to the report, the Pakistan finance ministry had earlier predicted that inflation would go beyond 15 pc in the upcoming fiscal year, which began from July 1.
UNI