PBS reported that the rural CPI inflation rose 7.32% in October on a year-on-year basis while urban inflation soared 11.31%. Giving breakdown, the PBS reported that the rural CPI inflation rose 7.32% in October on a year-on-year basis while urban inflation soared 11.31%. “The impact of the number (inflation at 8.91%) is high on the masses, mainly in urban centres,” he stated. The government needed to focus more on improving food supplies and achieving food security to protect the vulnerable section of society, he stressed. Tariq estimated the inflation rate at 8.5% for the current fiscal year while Aslam saw inflation in the range of 7.5% to 8.5%.

Source: The Express Tribune November 03, 2020 03:22 UTC