#stayhome Maintain the distance, wash your hands, and follow instructions from the health authorities.
RSS   Newsletter   Contact   Advertise with us

Pakistan's inflation rate jumps to record 14.6 percent

Share on Twitter Share on LinkedIn
Christian Fernsby ▼ | February 3, 2020
Pakistani consumer price inflation rose to 14.56% in January, news agency Reuters report said quoting the statistics bureau on Saturday.
Pakistan street
Economy in Pakistan   Pakistan street
Inflation with new base year (2015-16) has increased by 14.56 percent in January 2020. Meanwhile, on old methodolo­gy (base 2007-08), the inflation has gone to 13.07 percent in the previous month (January 2020) over the corresponding period of last year. New inflation rate is higher than the projections of the government, International Monetary Fund (IMF) and State Bank of Pakistan (SBP).

Topics: Pakistan inflation

Prices of food and beverages up by 23.6 percent this Jan.

The earlier highest inflation for Pakistan stood at 17 percent in the year 2007-08.

The inflation in January was attributed to the increase in food prices such as wheat and flour, pulses, sugar, jaggery and edible oil, according to data.

Additionally, gas prices rose 54.84 percent YoY in urban areas, and motor fuels rose 25.69 percent in urban areas and 26.4 percent in rural areas.

However, on a month-on-month (MoM) basis, tomato prices decreased 8.36 percent in urban and 8.22 percent in rural areas, while onion prices also saw a decrease from December 2019 (18.37 percent in urban and 20.52 percent in rural areas).

This unusually high inflation rate of 14.56 percent stands in sharp contrast to the official line the State Bank of Pakistan (SBP) is promoting.