Islamabad: Prime Minister Imran Khan will organize a high-level meeting in Islamabad on Thursday to consider measures to control the country’s rising inflation.
According to reports, Prime Minister Usman Buzdar of Punjab and Mehmood Khan, Prime Minister of Khyber Pakhtunkhwa, were also invited to attend the meeting and informed them of the development and development of measures to curb inflation. Measures implemented.
The meeting will consider strategies to control inflation in the presence of senior federal and provincial government officials.
The meeting will also be informed of the progress made by the provinces in setting up price control agencies.
Sources told the media that senior officials will also consider introducing a “magistrate system” to control inflation.
The prime minister will be informed of the measures taken to reduce the prices of basic goods and the measures taken to combat consumer accumulation.
Inflation rises to the highest level in nine years
The Pakistani statistics agency reported on Wednesday that annual inflation has risen to 12.7% on an annual basis, the highest level in nine years, mainly due to rising food prices.
After PBS had revised its calculation method by setting the new base year to 2015-16 instead of the previous fiscal year of 2007-08, inflation measured by the consumer price index (CPI) increased slightly by 1.3% compared to the previous one month.
Data released on Wednesday revealed that rising food prices were the biggest driver of general inflation in November. It has also been found that basic food prices are higher in rural areas than in urban areas.
From July to November the average inflation rate was 10.79%, compared to 6.10% in the same period last year.
The most important factor contributing to the rise in tomato prices is the price of tomatoes, wheat, milk, edible oils, dairy products and other foods (accounting for one third of the total food basket used to calculate inflation).
On a monthly basis, the CPI increased by 1.34% in November, compared to 1.82% in October.
In November, food inflation in urban areas increased by 16.6% on an annual basis and 2.4% each month, while food inflation in rural areas increased by 19.3% and 3.4% respectively.
Similarly, non-food inflation in urban centers was recorded on an annual basis at 9.6%, compared with 9% in rural areas. The rise in non-food inflation is mainly due to the combined effects of rising oil prices and the depreciating exchange rates of recent months. The government has shifted this growth to domestic consumers.
Prices for non-food were also put under pressure by the education index, which increased by 6.12%. Clothing and footwear increased 9.37%, housing, water, electricity, gas and other fuels increased 8.81%, furniture and household appliances increased 10.84%, health increased 11.39%, transport increased 13 , 95% and entertainment and culture increased by 6.8%.