Pakistan's inflation rate jumps to record 14.6 percentChristian 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.
Economy in Pakistan Pakistan street
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. ■