Inflation: No Let Up Yet

August 2008 | Market Strategy

Inflationary pressures remain unrelenting in Pakistan, as evidenced by today's release of data for July. The consumer price index (CPI) ticked up to a three-decade high of 24.3% y-o-y last month (up from 21.5% in June), propelled by food and fuel price increases. On a month-on-month basis the index accelerated to 3.3%, from 2.1% in the preceding month. The 'food and beverages' category (40.3% of CPI) powered forth by 33.8% y-o-y, while the 'transport and communication' component (with a 7.3% weighting) registered a 37.2% increase on last year. Similarly, the wholesale price index (WPI) revved further, at 34% y-o-y and

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