Pakistan's consumer's inflation(CPI)-based clocked in at 10.9 percent on a year-on-year basis in May 2021 compared to an increase of 11.1 percent in the
Pakistan’s consumer inflation (CPI) rate jumped to 11.1 percent on a year-on-year basis in April 2021 as compared to an increase of 9.1 percent in the previous month and 8.5 percent in April 2020 mainly due to increase in prices of food items, fruits, and clothing and footwear, says the Pakistan Bureau of Statistics (PBS).
This was the highest rate of inflation in the past 13 months. In February 2020, inflation had jumped to 12.4 percent and 10.2 percent in March 2020.
According to the monthly review of price indices by the PBS, on a month-on-month basis, the CPI increased by 1 percent in April 2021 as compared to an increase of 0.4 percent in the previous month and a decrease of 0.8 percent in April 2020.
Inflation Increases by 9.1% in March 2021
Pakistan’s consumer inflation (CPI) rate jumped to 9.1 percent on a year-on-year basis in March 2021 compared to an increase of 8.7 percent in the previous month and 10.2 percent in March 2020, says the Pakistan Bureau of Statistics (PBS).
According to the monthly review on price indices by the PBS on a month-on-month basis, the CPI increased by 0.4 percent in March 2021 compared to an increase of 1.8 percent in the previous month and an increase of 0.02 percent in March 2020.
The PBS recorded 9.1% inflation rate three days after Prime Minister Imran Khan sacked Finance Minister Dr Abdul Hafeez Shaikh on charges of not controlling inflation.
SBP poised to hold rate as economic headwinds persist
Business
March 17, 2021
KARACHI: The State Bank of Pakistan (SBP) is likely to keep its policy rate on hold this week to continue to support an economy struggling with surging coronavirus cases, and wary of increasing inflationary pressures, analysts forecast on Tuesday.
The central bank left interest rates unchanged at 7 percent for a third consecutive meeting in January after slashing them five times last year by a total of 625 basis points (bps).
The SBP’s Monetary Policy Committee (MPC) will meet to review rates on March 19 (Friday).
A majority of analysts surveyed sees the policy rate to remain steady in the upcoming meeting in light of forward guidance given by the MPC on the monetary policy. The policymakers, in the last statement, clearly indicated to keep rates on hold in the near term until there are clear signs that the economy is recovering.