Pakistan Inflation Hits 13.37% in April, Highest in Two Years

Consumer prices in Pakistan rose to a two-year high of 13.37 percent in April amid a global surge in food and energy costs.

The figure followed a 12.7 percent annual rise in March, marking the highest increase since January 2020 and the sixth straight month of double-digit inflation, according to data from the Pakistan Bureau of Statistics (PBS).

Prices of food items mainly drove the increase with a 29.57 percent surge, followed by 28.34 percent for transport. Household equipment rose 14.66 percent, restaurants and hotels 14.57 percent, while health items surged 10.37 percent.

The PBS added that food inflation in urban areas went up 15.98 percent year on year, while rural areas saw an increase of 18.23 percent.

In a monthly outlook report for April, Pakistan’s Ministry of Finance had noted that the spike in consumer prices is on account of more expensive import costs, as the country is a net importer, especially of oil products.

The ministry attributed the rise in import costs to the Russia-Ukraine war, supply chain disruption, and a post-pandemic surge in global demand.

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