Pakistan, Dec. 5 -- Inflation has risen to 12.7 per cent year on year due to an increase in prices of food items according to the Pakistan Bureau of Statistics (PBS), which is the highest in nine years, it was reported on Wednesday.
According to PBS revised calculations, where the base year has been set as 2015-16 rather than 2007-08, Consumer Price Index (CPI) has jumped up by 1.3 per cent on a month on month basis.
Meanwhile, the Finance Ministry has claimed that the inflation levels would come down from next month, however, have failed to explain how it plans to achieve that.
This change in the base year will allow all prices to be compared against the prices in FY16 in order for the CPI to be calculated. Hence, based on the new base ...