THE State Bank’s warning that domestic food prices could rise more than expected in the near term deserves urgent attention. In its biannual monetary policy report, the bank rightly points out that recent food inflation is no longer being generated only at home. It is increasingly being driven by forces beyond Pakistan’s control, particularly through energy, fertiliser and freight costs. The transmission mechanism is straightforward. The war in the region and disruptions to gas supplies from the Gulf are pushing up global energy and fertiliser prices. Both feed directly into the cost of cultivation and the........

© Dawn