Pakistan's Inflation Rate Accelerates to 12.6%, Highest in Five Months
CPI Jumps 0.5% MoM, Reaching 255.94 Points
Pakistan's Consumer Price Index (CPI) surged by 0.5% on a month-over-month basis in June 2024, increasing from 254.78 points in May to 255.94 points, according to data released by the Pakistan Bureau of Statistics (PBS).
Inflation Rate Hits 12.6%
The increase in CPI pushed the annual inflation rate to 12.6%, up from 11.8% in May. This marks the highest inflation rate in five months, after a period of gradual easing.
The rise in inflation was primarily driven by a rebound in prices for food and non-food items. Food inflation rose by 0.6%, while non-food inflation increased by 0.4%.
The government has expressed concern about the rising inflation rate and has pledged to take measures to control prices.
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