Pakistan's Inflation Surges Beyond Expectations
Pakistan's Consumer Price Index increased by 3.5% in May compared to the previous year, surpassing the Finance Ministry's forecast of 1.5-2% inflation. However, prices fell by 0.3% from the previous month, according to the Statistics Bureau.
- Country:
- Pakistan
Pakistan's Consumer Price Index (CPI) experienced a significant rise of 3.5% this May compared to the same month last year, the nation's Statistics Bureau announced. This increase is notably higher than the Finance Ministry's anticipated inflation range of 1.5% to 2%.
Despite the annual surge, the report showcased a 0.3% decline in prices from April to May, indicating month-to-month fluctuations. This monthly downturn occurs after a 0.3% CPI rise in April year-on-year.
These CPI figures reflect an unpredictable inflation trajectory in Pakistan, challenging the Finance Ministry's earlier projections and suggesting wider implications for the country's economic stability.
(With inputs from agencies.)
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