ISLAMABAD: According to the Pakistan Bureau of Statistics (PBS), the current inflation rate has jumped over nine per cent in October, recording the highest in the last four months. The Consumer Price Index (CPI) stood at 9.2 per cent in the last month.
The stats suggest that prices of commodities are increasing at an alarming rate as the inflation in the Wholesale Price Index (WPI) was recorded at 21.2pc due to price hike recorded in textile, metal products, apparel, food, other transport goods, beverages and leather products.
It is also said that the conditions might not change anytime soon. In urban areas, the rate of inflation rose to 9.6 per cent, whereas in the villages and towns, it slightly went down to 8.7 per cent.
According to the PBS, the prices increased at an average of 43 per cent in October alone. Planning Minister Asad Umar and Finance Minister Shaukat Tarin have announced that reforms would be introduced to bring down the prices, taxes, and duties.