Pakistan posts 26.89-pct surge in inflation in October

Pakistan's inflation measured by the Consumer Price Index (CPI) increased by 26.89 percent year-on-year in October 2023, the Pakistan Bureau of Statistics (PBS) said on Wednesday, Xinhua reports. 

According to the data released by the bureau, the CPI inflation grew by 1.08 percent on a month-on-month basis last month.

The statistics showed that urban and rural inflation edged up 1.07 percent and 1.01 percent on a month-on-month basis, respectively, a drop after a consistent increase in inflation from July to September.

Last month, the government decided to cut fuel prices and continue the monetary policy with an aim to decrease increasing inflation.

The data revealed that the inflation in October was mainly due to an increase in food prices.

According to the figures on a year-on-year basis, the inflation increased in a wide range of items, including non-perishable food items, transport, beverages and tobacco, household equipment maintenance, clothing and footwear, education, recreation, housing and communication.

On a month-on-month basis, different items witnessed a surge, including onions, potatoes, fresh vegetables, fresh fruits, eggs, fish, electricity charges and medicines.