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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World PREVIEW-Pakistan's July CPI seen up 12.34 percent Reuters - Wednesday, August 11 Send IM Story Print * What: Pakistan CPI data for July * When: On or soon after Tuesday * CPI rise seen higher in coming months because of damage caused by floods. KARACHI, Aug 10 - Pakistan's consumer price index , the key indicator of inflation, likely rose by 12.34 percent year-on-year in July, a slower rise than in June, thanks to a high base affect, according to a Reuters poll. July consumer prices were seen rising 12.34 percent from a year earlier, according to the median of a survey of 10 analysts and economists. The CPI rose by 12.69 percent in June. The Federal Bureau of Statistics is due to release CPI data on, or soon after, Tuesday. The central bank has maintained a tight monetary policy and raised the key policy rate by 50 basis points to 13 percent last month to reinforce its fight against inflation and a widening fiscal deficit. But the inflation trend is likely to be higher in coming months because of serious floods which began at the end of last month. "Inflation is likely to rise further due to the loss of crops and devastation caused by the floods," said Asif Qureshi, director at Invisor Securities Ltd. The worst floods in 80 years will mean Pakistan will miss a target of 4.5 percent gross domestic product growth this year although the extent of the damage is being assessed, a Finance Ministry official said on Tuesday. The International Monetary Fund said on Monday the floods will cause "major harm to the economy", as donor and investor concerns grew over the disaster's impact on an already fragile economy. [ID:nN09101524] The government said it was assessing the damage but it would be substantial, especially in the agriculture sector. Analysts also said prices usually rise in the holy month of Ramadan which is due to begin this week. CPI FORECASTS FOR JULY IGI Securities 11.6 Global Securities 11.8 Silk Bank 12.2 NIB Bank 12.23 Invisor Securities 12.3 Invest & Finance Securities Ltd. 12.38 Invest Capital Investment Bank 12.44 Citbank 12.5 Meezan Bank 12.8 Topline Securities 13.2 ---------- Median 12.34 (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) Recommend Send IM Story Print Related Articles AgFeed Industries swings to quarterly loss; shares fall Reuters - 31 minutes ago India Petronet taps spot LNG mkt after 7 mths Reuters - 36 minutes ago FINANCIAL/MOVES (UPDATE 2) Reuters - 44 minutes ago US-BUSINESS Summary Reuters - 47 minutes ago Boeing assessing 787 manufacturing issues Reuters - 47 minutes ago News Search Top Stories US productivity dips for first time since 2008 WHO chief says swine flu pandemic is over Campbell's ex-agent lied to court: Taylor lawyer Saudi watchdog backtracks on BlackBerry ban Israel threatens to pull out of UN's Gaza probe More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Sauna contest in Finland cut short as Russian dies Massive ice island breaks off Greenland glacier Visitors attack Taiwan 'haunted house' actors BP spends $6.1 bln on Gulf spill response Campbell's ex-agent lied to court: Taylor lawyer More Most Viewed » Argentine students crack three-decade-old murder mystery 40 US billionaires pledge half wealth to charity World's first full face transplant man appears on TV Calcium supplements linked to heart attacks: study Massive ice island breaks off Greenland glacier More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010

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