Inflation in Pakistan 31 percent in a week

Islamabad, July 5 (ANI): Latest figures issued by Pakistan's Federal Bureau of Statistics indicate that inflation has jumped over 31 per cent during the last one week.

This is first instance of inflation jumping to a record high in the history of Pakistan, lending an urgency to the need for Government intervention to hold millions of people falling into poverty trap.

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The figures show that the prices of goods and services for the lowest income group increased as much as 31.6 per cent during the week ended on July 3 as compared to the same week of the last year.

The official figures, which are based on Sensitive Price index (SPI) showed that out of surveyed 53 items, the prices of 45 products mainly essential food commodities increased during the last week (June 27 to July 3) as compared to the same week of the last year.

Most of the economists say the government is partly responsible for current wave of inflation. They say other than 'imported inflation', caused by high-energy prices, the 'homegrown inflation' is also becoming problematic. (ANI)