https://sputniknews.in/20230503/annual-inflation-in-pakistan-stands-at-364-in-april-1806895.html
Annual Inflation in Pakistan Stands at 36,4% in April
Annual Inflation in Pakistan Stands at 36,4% in April
Sputnik India
MOSCOW (Sputnik) - Inflation in Pakistan accelerated to 36.4% in April from 35.4% in March in annual terms, Pakistan Bureau of Statistics said on Wednesday. 03.05.2023, Sputnik India
2023-05-03T19:25+0530
2023-05-03T19:25+0530
2023-05-03T19:25+0530
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"CPI [consumer price index] inflation General, increased to 36.4% on year-on-year basis in April 2023 as compared to an increase of 35.4% in the previous month and 13.4% in April 2022," the bureau said in a report. As for month-over-month, prices in Pakistan grew by 2.4% in April, compared to a 3.5% increase in February. Pakistan has been in economic turmoil for months due to a severe balance of payments crisis, while negotiations with the International Monetary Fund for a $1.1 billion loan as part of a total $6.5 billion bailout have failed so far. The Pakistani Finance Ministry has previously stated that a successful completion of negotiations with the IMF will eventually attract capital inflows, stabilise the exchange rate and reduce inflationary pressures.
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pakistan, economic crisis, fuel crisis, imf loan
pakistan, economic crisis, fuel crisis, imf loan
Annual Inflation in Pakistan Stands at 36,4% in April
MOSCOW (Sputnik) - Inflation in Pakistan accelerated to 36.4% in April from 35.4% in March in annual terms, Pakistan Bureau of Statistics said on Wednesday.
"CPI [consumer price index] inflation General, increased to 36.4% on year-on-year basis in April 2023 as compared to an increase of 35.4% in the previous month and 13.4% in April 2022," the bureau said in a report.
As for month-over-month, prices in Pakistan grew by 2.4% in April, compared to a 3.5% increase in February.
Amreen Soorani, head of the research department of the JS Capital investment company, said that "the hyperinflation in the food segment" was the main driver for the high inflation rate, according to the 24newshd.tv broadcaster.
Pakistan has been in economic turmoil for months due to a severe balance of payments crisis, while negotiations with the International Monetary Fund for a $1.1 billion loan as part of a total $6.5 billion bailout
have failed so far.
The Pakistani Finance Ministry has previously stated that a successful completion of negotiations with the IMF will eventually attract capital inflows, stabilise the exchange rate and reduce inflationary pressures.
