Pakistan Inflation Surges to 24.93% Amid Rupee Slump
- Food inflation in July at 28.77%, transport at 64.73%
- Central bank scheduled to announce monetary policy on Aug. 22
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Pakistan’s headline inflation climbed to a 14-year high in July as a weak currency stoked food and fuel prices, boosting the odds of further interest rate hike.
Consumer prices rose 24.93% last month from a year earlier, according to data released by the government Monday. That compares with a median estimate for a 23.5% gain in a Bloomberg survey of economists and a 21.3% jump in June.