Pakistan consumer price inflation at 14-year high of 24.9% in July

PAKISTAN’S annual consumer price inflation reached 24.9 per cent in July, up from 21.3 per cent in June and the highest in 24 years, the statistics bureau said on Monday (Aug 1).

Non-food items, mainly fuel and electricity charges, were the major reason for the rise, it said, adding surging prices for vegetables, pulses, cooking oil, wheat flour and milk were also a significant factor.

On a month-on-month basis, inflation jumped by 4.3 per cent in July, the bureau said.

Pakistan is facing economic turmoil with fast depleting foreign reserves, an historic depreciation of the rupee against the US dollar, and soaring inflation. REUTERS