Inflation soars at 11.64 per cent

Friday, July 4, 2008 at 9:07 am

Pushed by higher prices of food and fuel, inflation soars at 11.63 per cent for the week ending June 21.

It is the nineteenth successive week that inflation has shown a upwards trend and experts believe that inflation figures are likely to remian in double digits for the coming few weeks.

Inflation had touched 11.42 per cent for the week ending June 14.

The inflation number was higher by 0.37 per cent over the figure recorded during the week ending June 7. Inflation was 4.13 in the corresponding week a year ago.

At 11.42 per cent, it had breached a high of 11.11 per cent witnessed on May 6, 1995, but was still below 16.9 per cent recorded in March that year.

Inflation to ease around 8.5 pc by year-end: Moody’s

The global credit rating agency Moody’s on June 27 had said that inflation would ease to around 8.5 per cent by the year-end due to monetary tightening and duty cuts, even as there does not seem to be any respite from the double digit inflation for the next few weeks.

“Softening demand-driven inflationary pressures will see wholesale price growth gradually decelerate to around 8.5 per cent by year-end,” Moody’s said in a report.

( This post is from an independent writer. The opinions and views expressed herein are those of the author and are not endorsed by APakistanNews.Com.)

Inflation soars at 11.64 per cent

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