PM Imran Khan calls on high level meeting over rising inflation

• PM will be informed of the progress made in setting up of Price Control Authority in the provinces.
• Consumers Price Index-based inflation on year-on-year basis witnessed an increase of 12.7pc in Nov 2019.

Prime Minister Imran Khan has convened a high level meeting today (Thursday) to counter the rising inflation in the country.

The PM has summoned the Chief Minister of Punjab and the CM Khyber Pakhtunkhwa in the meeting. Meanwhile, top officials from the federal and provincial governments would also attend the meeting.

The provincial ministers are also expected to brief PM on measures taken to control inflation. The premier will be informed of the progress made in setting up of Price Control Authority in the provinces.

The development comes after the Consumers Price Index (CPI)-based inflation on year-on-year (YoY) basis witnessed an increase of 12.7 percent in November 2019 from 116.18 points in November 2018 to 130.90 points.

The CPI on month-on-month (MoM) basis went up by 1.34 percent in November to 130.90 points from 129.16 points in October 2019.

According to Pakistan Bureau of Statistic, CPI general in October 2019 increased by 11.04 percent, which was recorded at 5.7 percent in November 2018. Whereas, on MoM basis, CPI general recorded an increase of 1.34 percent in November 2019 against an increase of 1.8 percent in October, while CPI witnessed a reduction of 0.1 percent in November 2018.