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31.5% Inflation in Pakistan Breaks All Records in 50 Years

The consumer price index (CPI), which measures inflation in Pakistan, shattered all previous records and soared to 31.5% in February as a result of sharp increases in the costs of transportation, housing, and food.

The Pakistan Bureau of Statistics (PBS) released new inflation data on Wednesday, which has increased the likelihood that interest rates will climb further at the March 2 meeting of the monetary policy committee (MPC).

Read More: Pakistan Receives $500 Million from Chinese Bank

The inflation rate quickly reached 31.5% in February over the prior year, which is the highest since figures were collected in July 1965. When it was last measured, in April 1975, the inflation rate was just over 29%.

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