Pakistan's petroleum prices hike to fuel sky-high inflation

[Collection]Pakistan announced an increase in petrol and diesel prices on Tuesday to meet fiscal objectives laid down in a deal with the International Monetary Fund (IMF), adding further fuel to its sky-high inflation.The country's Consumer Price Index rose to 28.3% in July, year-on-year, the statistics bureau said in a statement on Tuesday, with prices up 3.5% in July from the previous month.