The inflation rate surged 11.5% in November compared to the same month of previous year, the Pakistan Bureau of Statistics (PBS) reported on Tuesday – a day earlier than its periodic release. The 11.5% annual inflation rate was the highest since February 2020, showed the statistics, dashing government expectations of keeping the index below 10%. The inflation rate swelled to 10.9% in villages and towns – the highest reading since March 2020, according to the PBS. The pace of food inflation accelerated to 11.9% in cities and to 8.6% in villages and towns. The IMF is asking to introduce a mini-budget, increase electricity prices and enhance petroleum levy by another Rs20 per litre.

Source: The Express Tribune December 01, 2021 23:20 UTC