Pakistan's Inflation Rate Soars
CPI Rises to 12.6%, Highest in Months
Month-on-Month Increase of 0.5% Fueled by Rising Food and Non-Food Prices
Pakistan's Consumer Price Index (CPI) has surged to 25594 points in June 2024, a significant increase from 25478 points in May. This marks a month-on-month increase of 0.5%.
Pakistan's inflation rate has been on a steady upward trend, reaching 12.6% in June 2024. This represents a rise from 11.8% in May 2024, breaking the five-month period of decreasing inflation rates.
The increase in CPI was primarily driven by rising food and non-food prices. Food inflation climbed by 0.4%, while non-food inflation saw a 0.1% increase. This inflation surge has placed additional stress on Pakistani consumers, who are already struggling with increasing living costs.
The recent increase in inflation has heightened concerns among economists and policymakers. The government has been implementing measures to curb the rising inflation, but the impact of these efforts is yet to be fully realized. The ongoing situation poses significant challenges to the Pakistani economy and affects the daily lives of its citizens.
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