August witnessed a rise in Pakistan’s annual inflation rate to 3.42 per cent from 2.91 per cent. The statistics were revealed by the Pakistan Bureau of Statistics.
On a month-on-month basis, the inflation rate was 0.19 per cent in August, the bureau said. Food items such as onions, tomatoes and mango were the main reason behind an increase in the month-on-month prices.
Last month, PBS estimated a fall in inflation rates but the consumers, who actually pay the prices on which the inflation statistics are based, did not agree with such estimates.
Consumers were of the opinion that inflation numbers are underestimated in Pakistan. Notable economists also share this opinion. In particular, the methodology adopted by the PBS has come under criticism from the economists.
Credit: Express Tribune