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Pakistan’s CPI inflation spikes to record high on runaway food prices
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[ad_1] An undated image of consumers buying fresh vegetables from a local market. — AFP/File The consumer price index (CPI) based inflation in Pakistan surged to a record 38% on a year-on-year (YoY) basis in May 2023, the highest since July 1965, largely fired up by runaway food prices that continue to defy curbs. Pakistan…
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High power tariffs exceeding consumers’ affordability, impacting consumption patterns: study
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[ad_1] A technician from Karachi Electric , Pakistan’s largest city’s power supply company, checks electricity meters at a residential building in Karachi, on May 13, 2010. — AFP A recent study, conducted by the Institute of Policy Studies in Islamabad, found that the rising electricity prices are stretching consumers’ affordability to a breaking point and impacting…
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Gold rate in Pakistan jumps to all-time high amid political uncertainty
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[ad_1] People buy jewellery at a jewellery store in Amritsar on October 22, 2022. — AFP/File As investors’ attention shifted to the safe-haven bullion due to the political uncertainty that ensued after the arrest of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, gold prices in Pakistan surged to another all-time high Tuesday. The rate of gold (24 carats)…
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Gold rate surges to fresh all-time high
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[ad_1] An undated file image of a woman wearing gold bangles. — AFP The rate of gold soared to another all-time high in Pakistan Saturday as the country experienced record weekly inflation amid the ongoing economic turmoil. The price of gold (24 carats) increased by Rs500 per tola and Rs429 per 10 grams to reach…
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Gold rate declines slightly from all-time high
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[ad_1] An undated image of gold bangles. — AFP After reaching another all-time high a day earlier, the rate of gold declined slightly in Pakistan Friday in line with developments in the international market. The rate of gold (24 carats) decreased by Rs300 per tola and Rs257 per 10 grams to reach Rs225,000 and Rs192,901,…
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Gold, silver jump to new all-time high
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[ad_1] A salesperson displays gold jewellery at a store in this undated file photo. — AFP As the country continues to go through one of its worst economic crises and inflation surged to unprecedented levels, people flocked to buy gold, propelling the precious metal’s value to a new all-time high. The price of gold (24…
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With high demand, gold hits new peak | The Express Tribune
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[ad_1] KARACHI: Gold hit a new all-time high at Rs219,500 per tola (11.66 grams) on Saturday owing to speculation that demand for the safe-haven asset had remained high. All Pakistan Saraf Gems and Jewellers Association (APSGJA) reported that the bullion price went up by Rs800 per tola. Talking to The Express Tribune, a member of…
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Gold soars to new record high
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[ad_1] This undated file photo shows processed gold bars. — AFP As the international rate went up again and the country’s economic crisis persisted, the price of gold in the domestic market rose to a new record high on Saturday. The rate of gold (24 carats) increased by Rs800 per tola and Rs686 per 10…
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Gold surges to another all-time high
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[ad_1] A representational image of gold bangles. — AFP/File As the country continues to experience one of its worst economic crisis and a bailout from the International Monetary Fund (IMF) is yet to materialise, the price of gold rose again Thursday to reach a new high. According to data provided by the All Pakistan Sarafa…
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Rupee hits one-month high at 283.39 to a dollar | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee ticked up 0.03%, or Rs0.08, on Wednesday and closed at a one-month high at Rs283.39 against the US dollar in inter-bank market, maintaining its winning streak for the second consecutive working day. The currency market resumed rupee-dollar exchange after five-day-long Eid holidays. On the previous working day on April 20, it…
