Pakistan’s inflation rate surges to over 4 years high: Report
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ISLAMABAD: Pakistan’s annual inflation rate surged to four years high, it has been revealed.
Inflation reached to 7.19 percent in January from 6.17 percent a month earlier, the Bureau of Statistics said on Friday, the highest level in over four years.
The above-expectations jump in inflation comes after the central bank devalued the currency five times since December 2016, weakening it by 26 percent against the dollar during that period.
On a month-on-month basis, prices increased by 1 percent in January.
Rising liquefied natural gas and electricity prices as well as a spike in tomatoes, garlic and medicine were the main reason behind the January month-on-month inflation rise.
Weekly inflation for the week ended on January 31, for the combined income group witnessed an increase of 1.65 percent as compared to the previous week.
