Inflation for the month of May accelerated and arrived beyond expectation of market analysts and also compared with last year May’s level, reaching at 5.02 percent.
According to Pakistan Bureau of Statistics data inflation in May 2017 reached at 5.02 percent compared with 3.17 percent of May 2016 and also up from April 2017 number of 4.78 percent.
Food and beverages and housing, water and electricity, fuels etc have weightage of 34.83 percent and 29.41 percent in the composition of inflation working, increased appreciably by 4.55 percent and 5.12 percent respectively. This impacted the overall inflation rate last month.
However, during July to May period the inflation rate was 4.18 percent which was within the target of government and State Bank of Pakistan estimates that inflation would remain in the range of 4 to 5 percent during the current fiscal year.