Inflation may reach up to 9.2 percent in August: Ministry of Finance

By: News Desk      Published: 04:49 PM, 29 Aug, 2021
Inflation may reach up to 9.2 percent in August: Ministry of Finance

The Ministry of Finance (MoF) has warned that inflation could reach 9.2 percent on a year-on-year basis in August, reported 24NewsHD TV channel.

The MoF report said prices of sugar, soybean, palm oil, wheat, and crude oil rose in global markets and Pakistan’s imports are expected to reach 6 6 billion in August.

“In July, the production of large industries recorded an increase,” the Ministry of Finance

“Trade deficit could reach 3 billion in August while the current account deficit is expected to remain under control,” the statement reads.

The report said, “Remittances are expected to reach 2.5 billion in August.” The ministry expressed satisfaction over crop production.

Reporter Waqas Azeem