CPI-based inflation clocks in at 12.6pc for June

Headline inflation for June clocked in at 12.6 per cent on the year, data from the Pakistan Bureau of Statistics (PBS) showed on Monday. The reading is higher than the 11.8pc year-on-year rise in May, but is well below the average reading of 23.4pc for the financial year which ended June 30. Month on month, the headline consumer inflation, measured by a basket of goods and services called the Consumer Price Index (CPI), rose 0.5pc in June. The June CPI reading is in line with the forecasts of both the State Bank of Pakistan and the finance ministry, which had spoken of an uptick due to spending linked to Eidul Azha holiday.