Pakistan's short-term inflation climbs to nearly 12% amid soaring food prices

The Pakistan Bureau of Statistics reported that short-term inflation reached 11.97% year-on-year in the week to Oct 8, largely because of higher food prices, especially wheat flour. Of the 51 essential items tracked, twenty saw price increases, six declined and the remaining items were unchanged. Persistent rises in petroleum costs, fueled by daily hikes in petrol and diesel, have sustained double-digit inflation for several weeks.

Planning Minister Ahsan Iqbal, chairing the National Price Monitoring Committee, warned of mounting pressures on essential commodities and ordered tighter monitoring of supply and hoarding. The surge in energy and transport costs is also boosting sales-tax revenues, according to tax analysts.