Pakistan Inflation Accelerates to 11.7% on Oil and Gas Import Shock

The surge in international oil and gas prices amid the Iran war hiked Pakistan's inflation to the highest level in two years as energy import costs ballooned. Pakistan's general inflation jumped to 11.7% in May from a year earlier, accelerating from 10.9% annual inflation in April, according to data from the Pakistan Bureau of Statistics published on Monday. The core inflation, which excludes food and energy, jumped by 9% year over year and by 8% month over month in May for urban areas, the statistics data showed. The biggest annual increases in…