Pakistan Inflation rate witnessed ease of 8.2% in August

Pakistan Bureau of Statistics has issued the latest figures about the inflation rate in the country that has witnessed ease of 8.2% which is the lowest in three months.

According to the details, the average rate of increase in prices of goods and services stood at 8.21% in August. Last time the inflation reading had remained at 8.2% in May.

The 8.2% inflation in August was lower than the federal government’s expectations that had predicted that inflation would remain in the range of 8.4% to 9.7% in August. In July, the reading was 9.3%.

The data revealed an 11.6% increase in electricity prices in August over the previous month. The increase was on account of monthly fuel price adjustment, notified by the National Electric Power Regulatory Authority (Nepra).

However, last week, the Economic Coordination Committee (ECC) of the cabinet did not take the decision to increase electricity prices on account of fuel price adjustment.

The numbers also showed an 18 paisa increase in the prices of electricity for the lifeline consumers, consuming up to 50 units a month.

The real challenge to the Pakistan Tehreek-e-Insaf-led federal and all provincial governments was to check prices of staple food and sugar.

Despite Prime Minister Imran Khan’s interest in controlling prices of wheat, wheat flour, and sugar, the rates have been increasing constantly.

The federal government’s decision to import and export wheat and sugar have a direct bearing on prices in the domestic market.