Inflation hits 13.76% in May, highest in over two years

Inflation hits 13.76% in May, the highest in over two years!

According to data shared by the Pakistan Bureau of Statistics (PBS) on Wednesday, inflation rose to a nearly two-and-a-half-year-high at 13.76 percent in May 2022. 

As per the statistics, inflation accelerated from 13.37% year-on-year (YoY) in April, marking a 0.44% month-on-month (MoM) rise in May.

This is the highest CPI inflation since January 2020 when it was 14.6%.

According to the PBS, inflation increased by 12.36% in urban areas and 15.88% in rural areas.

Transport saw a 31.77%rise, while prices of food items increased by 17.25%.

Prices of perishable food items increased by 26.37% and non-perishable items by 15.94%, according to the PBS data.

According to the report, the relatively high domestic inflation is compensated by rupee depreciation.