Thursday September 01, 2022

CPI Inflation Hits Multi-Decade High 27.3% On Year in August

ISLAMABAD: Pakistan’s consumer price index (CPI) surged to a multi-decade high of 27.3% in August from a year earlier, government data showed on Thursday, as authorities warn massive flooding in the country could exacerbate already skyrocketing prices.

Price rises in staples, including vegetables, wheat and cooking oil led the high inflation, the Pakistan Bureau of Statistics said in a statement. In July, annual CPI inflation was at 24.9%.

Economists said the August inflation was the highest in more than 40 years.

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