‘Inflation pressure increases as international oil prices significantly higher’
Business
May 28, 2021
ISLAMABAD: Inflationary pressure is increasing as prices of palm, soybean and crude oil, and tea have gone significantly up in the international market, the ministry of finance said on Thursday.
In a monthly economic report, the ministry of finance said consumer price index- (CPI) based inflation increased by 11.1 percent on a year-on-year basis in April 2021 as compared to an increase of 8.5 percent in April 2020, mainly due to an increase in prices of food items and clothing and footwear.
In the international market prices of palm oil and soybean oil prices have increased during last year.
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