The Asian Development Bank has projected that Pakistan’s inflation rate would slow down to 8.3 per cent in the fiscal year 2020-21. “Inflation is forecast to decelerate to 8.3 per cent in FY2021 with the central bank
Lockdowns and panic food buying due to the coronavirus pandemic could ignite world food inflation even though there are ample supplies of staple grains and oilseeds in key exporting nations, a senior economist at FAO and agricultural analysts said.
Pakistan’s consumer price inflation eased to 9.5% in April, its statistics office said on Friday, extending a months-long decline as the economy tanks due to the coronavirus crisis despite three interest rate cuts.
Britain’s inflation rate sank in April to its lowest level since August 2016 as the coronavirus pandemic pushed down global oil prices and clothing stores slashed prices.
Pakistan’s central bank (CB) kept its main interest rate at 13.25 per cent, having recently stopped hiking rates as data on the economy has begun to show that inflation is steadying.
Japan’s annual core consumer inflation ticked up only marginally in October despite the boost from a sales tax hike during the month, suggesting weak household sentiment is keeping companies from passing on the higher costs.
China’s consumer inflation climbed to nearly eight-year peak in November, but factory-gate prices remained in the red, adding to uncertainty over whether the manufacturing sector is bottoming out as trade risks persist.
The Russian central bank (CB) lowered its key interest rate to 6.25% amid slowing inflation and said further rate reductions in the first half of 2020 looked possible but not imminent.
The National Bank of Hungary (NBH) sees tax-adjusted core inflation, its preferred measure of lasting price trends, at 3.4% this year and next, below its June forecasts, the NBH said in its quarterly inflation report published on Thursday.
India’s retail inflation rose close to the central bank’s medium-term target of 4% in September for the first time in 14 months, but analysts still predict a sharp economic slowdown will prompt a sixth consecutive interest rate cut in December.