Pakistan's Inflation Rate Soars to 12.6% in June
CPI Rises to 255.94 Points, Driven by Food and Energy Costs
Pakistan's consumer price index (CPI) rose to 255.94 points in June 2024, up from 254.78 points in May, according to data from the Pakistan Bureau of Statistics (PBS).
This represents a 0.5% increase on a month-on-month basis and a 12.6% increase year-on-year. The rise in inflation was driven by higher food and energy costs.
Food prices increased by 1.2% in June, with the most significant increases seen in the prices of vegetables, meat, and dairy products. Energy prices also rose, with electricity prices increasing by 2.3% and fuel prices increasing by 1.5%.
The increase in inflation is concerning for the Pakistani government, which has been trying to control inflation for the past several months. The government has implemented a number of measures to try to reduce inflation, including raising interest rates and increasing the supply of goods.
However, it remains to be seen whether these measures will be effective in bringing inflation under control. If inflation continues to rise, it could have a negative impact on the Pakistani economy and the lives of Pakistani people.
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