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Business Islamabad Pakistan

PBS reported higher inflation as December’s CPI increased by 24.5% compared to the prior year.

HIgher inflation compared to prior year.

The CPI in November was 23.8%.

ISLAMABAD: The statistics office reported on Monday that the inflation indicator, the Consumer Price Index (CPI), increased by 24.5% in December over the prior year.

According to a press release from the bureau, prices increased 0.5% from November to December.

According to a study released on Thursday by the Pakistan Bureau of Statistics (PBS), the CPI increased by 23.8% in November compared to the same time previous year. Despite a 2.8% reduction in index movement, most consumer products continue to be beyond of most people’s price range.

The inflation rate met predictions set by the Ministry of Finance, which ranged from 23% to 25%.

A decrease in the pace of increase in perishable food goods was the cause of the moderate inflation rate. Their price group increased by 41% in November, which was a significant increase but still less than the month before.

Given how infrequently it calls meetings of the National Price Monitoring Committee, the coalition government has stopped monitoring the pricing of consumer items.