Pakistan Inflation Hits 11.7% in May as Middle East War Lifts Energy Costs
Updated
Updated · Bloomberg · Jun 1
Pakistan Inflation Hits 11.7% in May as Middle East War Lifts Energy Costs
4 articles · Updated · Bloomberg · Jun 1
Pakistan’s consumer price index rose 11.7% in May from a year earlier, the fastest pace in two years and up from 10.9% in April.
Rising energy import costs drove the acceleration as the war in the Middle East pushed up prices for a country reliant on imported fuel.
The May reading still came in below the 12.2% median estimate in a Bloomberg survey of economists, suggesting inflation undershot forecasts even as price pressures intensified.
As fuel costs soar, can Pakistan subsidize prices for its citizens without violating its crucial IMF agreement?
The Middle East war sparked an energy crisis, but is a global food shortage the next domino to fall?
Is Pakistan's renewable energy plan a realistic fix for the current crisis or a dream for another decade?