1 year review: 8.6pc increase in inflation rate noted
PMLN led govt failed to achieve all its targets except that of industrial sector.
ISLAMABAD (Dunya News) – The inflation rate rose by 8.6% in the past financial year, making every eatable item including meat, pulses more expensive. The prices of potatoes increased by 175%, Dunya News reported.
According to Federal Bureau of Statistics, inflation rate rose by an average 8.6% during the fiscal year July 2013 to May 2014.
During this time, the prices of mung beans hiked by 35%, non-slaughtered chicken by 20%, Masoor Dal by 19% and wheat products by 17%.
The prices of milk saw a 14% increase, postal service 23% and education prices rose by 16%.
The prices of electricity, garments and medical expenses rose by 16%. The prices of tomatoes were reduced by almost half during the past one month whereas the prices of onions decreased by 10%, wheat by 9%, flour by 6% and eggs by 8%.
Federal Bureau of Statistics projected that the inflation rate will come down to a single digit by the end of the current fiscal year.
Pakistan Muslim League Nawaz (PMLN) led government failed to achieve all its targets except the industrial sector during the past fiscal year.
A loss of billions of dollars in foreign trade was noted along with the failure to meet tax collection target.
Reportedly, agriculture sector also had to face a big blow.
