Inflation on rise in Pakistan despite drastic changes in PM’s economic team

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ISLAMABAD – Pakistan Bureau of Statics (PBS) said Saturday the country’s annual consumer price inflation (CPI) increased by 11.1% on year-on-year basis in April 2021 as compared to an increase of 9.1% in the March and 8.5% in April 2020.

On month-on-month basis, it increased by 1.0% in April 2021 as compared to an increase of 0.4% in the previous month and a decrease of 0.8% in April 2020, show the latest PBS statistics.

CPI inflation Urban, increased by 11.0% on year-on-year basis in April 2021 as compared to an increase of 8.7% in the previous month and 7.7% in April 2020.

On month-on-month basis, it increased by 1.3% in April 2021 as compared to an increase of 0.3% in the previous month and a decrease of 0.7% in April 2020.

Furthermore, CPI inflation Rural, increased by 11.3% on year-on-year basis in April 2021 as compared to an increase of 9.5% in the previous month and 9.8% in April 2020.

On month-on-month basis, it increased by 0.6% in April 2021 as compared to an increase of 0.5% in the previous month and a decrease of 1.1% in April 2020.

The PBS said that a surge in prices of vegetables, fruits and other items triggered inflation in the country.

Inflation rate is witnessing upward trend, putting burden on COVID-19 hit masses, despite massive changes by Prime Minister Imran Khan in his economic team last month.

On April 4, the premier appointed former banker Shaukat Tarin as new federal finance minister by removing Hammad Azhar, who remained in power just for few days.

Azhar was given the portfolio after the PTI government removed Dr Abdul Hafeez Shaikh as finance minister.

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