Pakistan inflation at 7.19 in January year-on-year: statistics bureau

Pakistan`s annual inflation rate surged to 7.19 percent in January from 6.17 percent a month earlier, the Bureau of Statistics said on Friday, the highest level in over four years.

The above-expectations jump in inflation comes after the central bank devalued the currency five times since December 2016, weakening it by 26 percent against the dollar during that period.

On a month-on-month basis, prices increased by 1 percent in January.

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Rising liquefied natural gas and electricity prices as well as a spike in tomatoes, garlic and medicine were the main reason behind the January month-on-month inflation rise.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)