Inflation & Prices
Pakistan Inflation Hits 47-Year High Before Full Impact of Flood
- Nation facing food shortages after deadly floods damage crops
- Increase in fuel tax, power tariff to drive inflation higher
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Pakistan’s inflation accelerated for a sixth straight month to hit a fresh record in August, with the deadly floods risk jolting prices further.
Consumer prices rose 27.26% last month from a year earlier, according to data released by the government Thursday. That compares with a median estimate for a 26.6% rise in a Bloomberg survey of economists and a 24.93% jump in July. Pakistan’s inflation is the highest since May 1975, according to Zeeshan Azhar, analyst at Foundation Securities Pvt. citing central bank data.