Monday, July 4, 2011

Inflation figures are still very high

Annual inflation went up by 13.92% in the fiscal year 2010-11 ,FBS stated on Saturday, and pressure is mounting on the govt to step up efforts to check sky rocketing prices in the new fiscal year 2011-12.
Annual headline inflation, measured by the CPI rose in double-digit food , rising international oil prices in world market and spike in textile products, data revealed by FBS.
The federal govt has set an inflation target of 12% for fiscal year 2011-12 and SBP may continue tight monetary policy for achieving it.
Last year, too, inflation target was projected at 9.5% but ended up with 13.92% showing the govt's failure in checking inflation within the target for the past 3 years.
Pakistan has undergone double-digit inflation for the past 5 consecutive years, which may mean that 40% of the population was pushed below the poverty line during these years.

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