Inflation Hits in at 9.1%

April 2, 2021 4:46 pm by Web Desk

Pakistan Bureau of Statistics (PBS) has recorded inflation nine per cent higher in March, the highest as a surge in prices of food and electricity, particularly in the rural areas of the country was noted.

The PBS stated that electricity rates were 31.5% higher than a year ago, eggs were 64% higher and almost all kitchen items recorded a double-digit rise in prices, including wheat, sugar, and wheat flour.

Wheat prices were 35% higher, 20% pulses, followed by a 24% average increase in prices of sugar, 19% wheat flour and 17% vegetable ghee, according to the PBS.

The PBS said that there was a noteworthy increase in inflation in rural areas as compared to the cities. The inflation rate in urban areas slightly increased to 8.7% in March but in rural areas, the inflation rate increased from 8.8% to 9.5%.

In cities, the inflation increased from 10.3% to 11.5%, according to the PBS while in rural areas, it jumped from 9.1% to 11.1% -a surge of 2% within a month.

The World Bank has projected a 9% inflation rate for Pakistan this year, which it said could slow down to 7% in the next financial year.

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