Pakistan's consumer price inflation was at 13.23% in August, the Federal Bureau of Statistics said Thursday. A year ago, consumer prices were up 10.69%

On a monthly basis, prices climbed 2.51% during the month, faster than the 1.23% increase in July. The wholesale price index rose 19.22% year-on-year in August compared to 0.26% increase during the same period last year. On a monthly basis, wholesale prices rose 2.62%.

Year-on-year, consumer prices for food and beverages increased 6.45% and clothing and footwear prices rose 0.64%. Costs of transport and communication was up 1.07% annually while housing rent rose 1.98%.

On a monthly basis, prices of food, fuel and lighting as well as household furniture and equipment recorded notable growth during the month.

In July, Pakistan's central bank raised the key policy rate by 50 basis points to 13%, as concerns over the persistence of inflation and the weak fiscal position outweighed improvement in the recovery process. According to the central bank, increase in electricity prices, general sales tax and revisions in government employees' wages are putting upward pressure on inflation.

Copyright(c) 2010 News.com, Inc. All Rights Reserved