Inflation Reaches 21.3pc In June — Highest In Over 13 Years

Inflation Reaches 21.3pc In June — Highest In Over 13 Years
Inflation in Pakistan has risen to 21.32 per cent, the highest in over 13 years, according to the Pakistan Bureau of Statistics (PBS).

The PBS data showed that inflation rose by 19.84 per cent in urban areas and 23.55 per cent in rural areas.

The transport sector saw a 62.17 per cent rise while the prices of perishable food items increased by 36.34 per cent.

Moreover, inflation in double digits was witnessed in non-perishable food items (24.43pc), restaurants and hotels (21.85pc), furnishing and household equipment maintenance (18.76pc), alcoholic beverages and tobacco (17.6pc), miscellaneous goods and services (15.83pc), recreation and culture (14.35pc), clothing and footwear (13.72), housing and utilities (13.48pc), and health (11.3pc).

Inflation was recorded at 13.76 per cent in May. However, in June, inflation rose 6.34 per cent month-on-month and 21.32 per cent year-on-year (YoY), which is the highest figure since December 2008 when inflation stood at 23.3 per cent.

Earlier, the finance ministry had predicted that inflation in the country would go beyond 15 per cent in the fiscal year 2022-23, which began from today.

"Despite achieving the growth of 5.97 per cent in fiscal year 2022, the underlying macroeconomic imbalances associated with domestic and international risks are making growth outlook indistinct."