The annual consumer price inflation rate in Pakistan rose faster than expected in July, driven up by higher food prices, but it was still below the central bank’s target, APP reported. The consumer price index inflation rose to 4.1% in July, the Pakistan Bureau of Statistics data showed. The CPI inflation clocked in at 3.2% year-on-year in June and 1.9% in July 2015. On month-on-month basis, the CPI inflation increased 1.3% in July as compared to an increase of 0.6 in the previous month and an increase of 0.4% in July 2015. The central bank forecast the inflation rate in the range of 4.5 and 5.5% for the current fiscal year.
