Inflation jumps to 24.9% in July- highest since 2008

 Inflation almost doubled since coalition government led by PM Shahbaz Sharif came into power in April

The inflation continues to rise as in July, 2022 amid falling commodity prices in the world market. The rising inflation is hurting the poor and working class badly. The free fall of Pak Rupee against US dollar has limited the ability of the government to control the inflation.

Inflation as measured by the Consumer Price Index (CPI) jumps to 24.9percent in July, highest rate since November 2008.  According to data released by the Pakistan Bureau of Statistics, CPI inflation increased by 4.35percent in July compared to June. In June, inflation was measured at 21.3pc, which was the highest figure in over 13 years. Inflation was measured at 23.6pc in urban areas and 26.93pc in rural areas.

The inflationary trend was driven by the transport sector, which saw prices increase by 64.73% year-on-year, followed by perishable food items at 32.93percent and non-perishable food items at 28.12%.

Other than education and communication, which saw inflation at 9.79% and 4.09%, respectively, all other sectors saw double-digit increases. Restaurants and hotels experienced high inflation of 24.97percent, Alcoholic beverages and tobacco 22.48percent, Housing and utilities21.78percent, Furnishing and household equipment maintenance19.69percent, Recreation and culture 15.41percent and Health 11.22percent.

The prices of vegetables went up 25% in July. The prices of flour, cooking oil and energy also went up in July.

                                                      Insight247.news business desk