ISLAMABAD: Pakistan's consumer price index (CPI) surged to a multi-decade high of 27.3 per cent in August from a year earlier, government data showed on Thursday (Sep 1), as authorities warn massive flooding in the country could exacerbate already skyrocketing prices. Price rises in staples, including vege
Vegetable and fruit prices have soared across Pakistan as devastating rains ruin crops and disrupt supplies, an early sign of how the worst floods in decades are creating food shortages at a time of financial crisis.
Pakistan's 220 million people were already facing rampant inflation before the flooding and the economy is in turmoil, with fast-depleting foreign reserves and a record fall of the rupee against the dollar. Officials say that more than 2 million acres of agricultural land has been flooded, destroying most standing crops and preventing farmers from sowing new ones.
Authorities are looking for ways to fast-track food imports. Commerce Minister Naveed Qamar said on Wednesday the government was close to an agreement to import vegetables and other edible goods from Iran and Afghanistan, and an urgent request had gone to the cabinet to approve it.
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