Pakistan reports record high inflation of 37.97 pct in May

By Staff Reporter | Xinhua Jun 2, 2023

ISLAMABAD, June 2 (Xinhua) -- Pakistan saw a record high inflation of 37.97 percent year on year in May, the Pakistan Bureau of Statistics (PBS) has said.

Inflation in May increased by 1.58 percent month on month with the food price hike remaining as the major driver behind the rise, the agency said in a statement on Thursday.

An increase in the prices of vegetables, pulses, and chicken mainly caused the increase, the PBS added.

The food inflation in urban areas increased by 48.1 percent in May from a year earlier.

In the meantime, in rural areas, food inflation increased by 52.4 percent in May year on year.

The overall inflation in rural areas rose by 42.2 percent whereas in urban areas a 35.1 percent increase in inflation was recorded, the statement added. 

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