F.P. Report
KARACHI: Inflation in the country is not expected to decrease in coming months, the British Business Consulting Corporation said in a report.
According to a report of the Economist Intelligence Unit, the government has to raise gas prices to meet the conditions of the International Monetary Fund (IMF) and fiscal deficit.
It further stated that an 18.6% rise in transport fares – a sector of the economy directly linked to many others – was another factor which contributed to the rise in inflation.
“Increase in wheat, sugar and tomato prices led to inflation, inflation in January is the highest level since 2010, the average inflation rate in 2019 is 9.4 percent,” the report said.
The report added that the government has not increased gas prices due to political pressure but the government has to raise the gas prices to meet the revenue target and the IMF requirements.
The government has set aside Rs7.3 billion to deal with emergencies while the State Bank has tightened its monetary policy to curb inflation.
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