Pakistan's inflation rises to 31.4% y/y amid high energy prices
© Reuters. A shopkeeper fills a bag of rice for a customer, at a shop along a market in Karachi, Pakistan June 9, 2023. REUTERS/Akhtar Soomro/File photoKARACHI, Pakistan -Pakistan's inflation rate clocked in at 31.4% year-on-year in September, rising from 27.4% in August, statistics bureau data showed on Monday, as the nation reels from high fuel and energy prices.
Reforms required by the IMF bailout, including an easing of import restrictions and a demand that subsidies be removed, have already fuelled annual inflation, which rose to a record 38.0% in May. The report added that inflation was, however, expected to ease, especially from the second half of the current fiscal year that starts on Jan. 1.
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