KARACHI: Consumer price inflation (CPI) rose to 2.73 percent year-on-year in November, marking the highest rate since July this year, as rising food prices and weak currency ended a slowdown.
The year-on CPI clocked in at 1.6 percent in October 2015 and four percent in November 2014, showed the data released on Monday by the Pakistan Bureau of Statistics (PBS).
Last month, the central bank also held its benchmark interest rate steady at 6.0 percent on expectation of higher inflation in November. The bank, however, sees that average inflation would remain below the FY16 annual target of six percent.
The PBS data showed that prices of food and non-alcoholic beverages, which have the highest weight in the CPI basket, increased 1.26 percent in November this year over the preceding month and 1.33 percent over November last year.
The PBS registered the highest surge in the prices of chicken (21.13 percent) in November 2015 over the previous month, followed by tomatoes (18.12pc), onions (14.61pc), potatoes (12.82pc), eggs (10.68pc), Besan (3.69pc), vegetables (3.26pc), tea (3.14pc), pulse mash (2.90pc), pulse gram (2.51pc), fish (2.39pc), betel leaves and nuts (1.88pc), wheat flour (1.49pc), wheat (1.46pc), gram whole (1.39pc) and dry fruits (1.06pc).