Pakistan Inflation at 48-Year-High as Supplies Jam in Ports
- Bloomberg economist sees faster inflation, more rate hikes
- Price gains fastest since May 1975; key rate most in 24 years
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Pakistan’s inflation quickened to the fastest in almost 48 years in January as thousands of containers of food items, raw materials and equipment are stuck in ports after the cash-strapped government curtailed imports.
Consumer prices rose 27.55% from a year earlier, according to data released by the statistics department on Wednesday. That compares with a median estimate for a 25.9% gain in a Bloomberg survey and a 24.47% jump in December. Inflation is at the highest since May 1975, according to central bank data.