Inflation in Pakistan jumps to 47-year highs

Inflation in Pakistan rose for the sixth consecutive month to an all-time high .

Data released Thursday showed consumer prices rose 27.26 percent in August year-on-year, after rising 24.93 percent in July, compared to expectations of 26.6 percent.

Pakistan has secured a $1.1 billion loan from the International Monetary Fund to avoid default.

Last month, the central bank of the Philippines fixed the interest rate unchanged, after raising the cost of borrowing by 525 basis points this year.

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