Short-term inflation surges to 11.38pc due to costly food

ISLAMABAD: Short-term inflation rose to 11.38 per cent year-on-year in the week ending October 15, driven largely by higher food prices , according to official data released by the Pakistan Bureau of Statistics (PBS) on Friday. Of the 51 essential items monitored during the week, prices of 23 commodities (45.10pc) increased, while those of seven items (13.72pc) declined, the data showed. Meanwhile, the prices of 21 items (41.18pc) remained unchanged from the previous week. Short-term inflation has remained in double digits for several consecutive weeks, largely on the back of persistent…