Inflation in Pakistan accelerated sharply in July to more than 8 percent, largely due to higher food prices during Ramadan. Prices rose to 8.3 percent in July compared with a year earlier, from 5.8 per cent in June, according to data released by the Pakistan Bureau of Statistics on Thursday. “The surge is due to Ramadan and the increase in prices of wheat and tomatoes,” Shaukat Zaman Butt, director of the bureau, told reporters. “There were no imports of tomatoes which (also contributed) to the surge.” On a month-on-month basis, prices rose 2.02 per cent from June, the bureau said. Analysts had widely expected the Consumer Price Index (CPI) to go up to around 8 per cent in July due to seasonal factors.
Inflation jumps to 8.3 percent due to higher food prices
