The annual inflation rate in Pakistan jumped to 21.3 percent in June of 2022, from 13.8 percent in the previous month. It was the highest inflation rate since December of 2008, despite the central bank’s 400 basis rate hikes this year amid a surge in global commodity prices, falling currency and rising import bill. Prices rose at an accelerated pace for transport (61.46 percent vs 31.8 percent), after the government raised domestic fuel prices by up to 92% in a month to meet the IMF’s requirements. Also, prices of food & non-alcoholic beverages jumped 24.63 percent, after rising 17.25 percent in May. Additional upward pressure came from housing and utilities (11.32 percent vs 5.8 percent); furnishings (17.59 percent vs 16.1 percent), and restaurants & hotels (21.19 percent vs 16 percent). On a monthly basis, consumer prices increased to a record high of 6.3 percent in June, rising sharply from a 0.4 percent uptick in the previous month. source: Pakistan Bureau of Statistics
Inflation Rate in Pakistan averaged 7.89 percent from 1957 until 2022, reaching an all time high of 37.81 percent in December of 1973 and a record low of -10.32 percent in February of 1959. This page provides the latest reported value for - Pakistan Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Pakistan Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Inflation Rate in Pakistan is expected to be 13.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Pakistan Inflation Rate is projected to trend around 8.50 percent in 2023 and 8.00 percent in 2024, according to our econometric models.