Pakistan-inflation shots up to 26.6% in October

Inflation of perishable food items jumps to 70. 47% in October 

According to the data released by the Pakistan Bureau of Statistics (PBS),inflation measured by the Consumer Price Index (CPI) shot up to 26.56 per cent year-on-year in October. The inflation is 3 percentage points higher than September’s 23.18pc and significantly higher than the 9.2pc in the same month last year.  Official data showed that inflation in October rose 4.71pc month-on-month.

Inflation in October was driven by a double-digit increase in all sub-indices except communications.

Perishable food items: 70.47pc

Transport: 53.43pc

Alcoholic beverages and tobacco: 34.63pc

Non-perishable food items: 30.58pc

Restaurants and hotels: 30.38pc

Furnishing and household equipment maintenance: 27.61pc

Recreation and culture: 23.65pc

Miscellaneous goods and services: 22.35pc

Clothing and footwear: 18.28pc

Health: 16.23pc

Housing and utilities: 11.92pc

Education: 10.88pc

Communication: 1.58pc

According to the PBS data, urban and rural inflation increased 24.57pc and 29.53pc YoY, respectively.

The figures contradict the finance ministry’s claim in the Monthly Economic Update and Outlook for October that inflation was likely to reduce as local average prices of basic goods had declined.

“The inflationary risks have partially been alleviated due to timely decisions to import perishable items by waiving off the customs duties. Administrative measures are also being taken to control price speculation to ease out inflation … Moreover, the declining international commodity prices are expected to offset the inflation spikes that emerged due to domestic supply shocks.

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