Pakistan’s annual inflation soared to 37.97% year-on-year in May, as the country’s statistics bureau reported on Thursday. This continues the trend of surging inflation in Pakistan, with the previous high being 36.4% year-on-year in April.
The bureau shared in a press statement that the May inflation rate rose by 1.58% compared to the previous month. The steepest price hikes were observed in vegetables, pulses, and chicken.
The measurement of inflation is based on the Consumer Price Index (CPI), a product and service basket divided into 12 key components, each carrying a different weight.
