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IMF predicts inflation hike in Pakistan next year

ISLAMABAD: A report of International Monetary Fund (IMF) has warned that the prices of commodities will rise in Pakistan from the next year, ARY News reported on Monday.

The report said that the inflation in Pakistan would hit 5.2% in 2017 which is nearly twice that of the current year’s 2.9%.

The prices of petroleum products, coal and gas will go up with a 27% hike in the coming year, according to the report.

As purported by the monetary institution, Pakistan would be witnessing effects of the hike by June 2017.

The Asian Development Bank (ADB) has predicted likely increase in crops prices by 3%, fertilizers by 2% and minerals and metals by at least 4.1%.

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