Pak Economy: Inflation surpasses government’s target
By Javed Mirza
KARACHI: Consumer Price Index (CPI) rose by 11.73 percent in 2009/10, surpassing the government’s target of 10 percent, mainly because of unprecedented increase in the electricity tariff.
It was, however, below the central bank’s projection of 12 percent. In the last financial year, CPI had gone up by 21 percent.
“CPI could have been contained to a single digit figure if the electricity charges had not been raised during the year,” said an analyst.
The government had to raise electricity prices because of a commitment with the International Monetary Fund (IMF).
Food inflation came down to 14.48 percent from over 30 percent in the previous fiscal. Read More »Pak Economy: Inflation surpasses government’s target