ISLAMABAD: The annual inflation rate increased 3.4% in August, but it was well within the target as minutes of the last Monetary Policy Committee (MPC) meeting suggested that inflation would remain within manageable limits due to stable government-administered prices and low inflationary expectations.Measured by the Consumer Price Index (CPI), the inflation indicator rose 3.41% against 2.91% a month earlier, the Pakistan Bureau of Statistics (PBS) said on Tuesday.
On a month-on-month basis, the inflation rate rose 0.19% in August. Higher prices of food items such as onion, tomato and mango were the main reason behind the increase in month-on-month rates. The slow pace of increase in prices was largely in line with the trend witnessed in the previous fiscal year when average inflation stood at 4.16%, significantly below the official target. Average inflation for July and August 2017 remained at 3.16%, said the PBS.Read More
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