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Pakistan consumer inflation slows to 8.4% in July

08/02/2021 | 06:19am EDT
Men sell vegetables at their makeshift stalls at the Empress Market in Karachi

KARACHI (Reuters) - Pakistan's consumer price index (CPI) rose 8.4% in July compared with a year earlier, showing a dip in the inflation rate from 9.7% in June, the statistics bureau said in a news release on Monday.

Lower prices for chicken, fruits and some of pulses helped slow inflation, the statement said, though it added that prices had risen for other food items, like vegetables, cooking oil, eggs, and grains.

The headline inflation rate was below the 9.3% recorded in July last year, but it has remained stubbornly high despite the central bank keeping policy rates at 7% for about a year to support the pandemic stricken economy.

The government has targeted 8% inflation for the current fiscal year, which began this month.

(Reporting by Syed Raza Hassan; Editing by Kim Coghill & Simon Cameron-Moore)


© Reuters 2021
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