Pakistan's inflation declines further to six-month low of 28% in July
Pakistan's inflation rate fell to 28.3 per cent in July, the lowest in six months, the statistics bureau said in a statement on Tuesday. The cash-strapped country witnessed record inflation of nearly 38 per cent in May, but since then this number has been declining. In June, the inflation number came in at 29.4 per cent.
The inflation number came in just hours after Pakistan increased the prices of petrol and diesel to meet fiscal objectives laid down by the International Monetary Fund (IMF). While inflation has eased a bit in July, the recent hike in fuel prices may further push the inflation in the coming months.
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