Inflation rises further in Pakistan, reveals SBP report
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The Statistics Bureau of Pakistan (SBP) Tuesday said that consumer inflation in October accelerated to 26.6% in comparison to 2021 same month.
The inflation has increased by 4.7% prices from the previous month.
Pertinent to note that in September, the consumer price index rose 23.2% on year, slowing from a decades-high 27.3% in August.
As per the SBP, the rise in consumer prices in October from last month was boosted mainly by electricity and food prices, the bureau said in a statement. The higher CPI from October last year was due to the rising costs of food and fuel.
A number of factors are behind the inflation percentage increase including falling foreign exchange reserves, a depreciating currency, widening current account deficit and devastating floods in August that killed more than 1,700 people.
