Pakistan’s weekly inflation rate increases by 3.38% after fuel price hike

Due to the increase in the petroleum prices, the inflation rate measured by the Sensitive Price Index (SPI) in Pakistan increased by 3.38 per cent in comparison to the previous week.

The data was released by the Pakistan Bureau of Statistics (PBS). The increase in the weekly inflation is the highest since the change of the base year for measuring the SPI, the Dawn reported.

Pakistan’s former finance minister Shaukat Tarin blamed the Imran Khan-led Pakistan Tahreek-i-Insaf government’s agreement with IMF for the price hike.

“Despite increasing petrol/ diesel prices by Rs84/115 per litre, power/ electricity prices by 50pc, you have not been able to satisfy IMF.