KARACHI, Pakistan, September 1 (Reuters) – Pakistan’s annual inflation rate rose to 27.4% in August, with prices rising 1.7% in August from a month earlier, the Bureau of Statistics said on Friday. from Pakistan.
Economic stabilization is a major challenge for the South Asian nation as it embarks on a narrow path of recovery after a $3 billion bailout from the International Monetary Fund (IMF) averted a sovereign debt default.
Economic reforms have already fueled record inflation and interest rates, and the rupee has hit record lows.
Pakistan raised gasoline and diesel prices to a record high on Friday, with gasoline prices rising Rs 14.9 to Rs 305.4; and diesel prices increased by Rs 18.4 to Rs 311.8.
In June, the increase in the Consumer Price Index (CPI) was 28.3% year-on-year, compared to the record of 38% in May.
Reporting by Gibran Peshimam and Ariba Shahid in Karachi; Editing by Alex Richardson
Our standards: The Thomson Reuters Trust Principles.
Discover more from PressNewsAgency
Subscribe to get the latest posts sent to your email.