ISLAMABAD – Pakistan’s consumer price index (CPI) rose 13.16 percent in March from a year ago, the Federal Bureau of Statistics said on Wednesday.
The CPI was up 1.48 percent from February. Pakistan’s wholesale price index (WPI) rose 25.41 percent in March from a year earlier, and was up 3.34 percent over February, according to the bureau.
February’s CPI had exhibited an annual rise of 12.91 percent. Pakistan’s central bank governor said inflation is likely to reach 15 percent by end of fiscal year 2010-11 (July-June).
“There is no major surprise here but going forward it would be interesting to see how fuel, food and commodities prices play out especially since there is a rise in these in international markets,” said Invest and Finance Securities Director Khalid Iqbal Siddiqui.
“This is in line with expectations and it seems like not just Pakistan but the entire world is in for a cycle of high inflation as international oil prices and commodity prices are on the rise,” said an economist at Standard Chartered Sayem Ali.
