As per the measurement by Consumer Price Index (CPI), Pakistan’s inflation for the month of July stands at 24.93%, it the the highest increase since November 2008.
Recently, as per the data shared by Pakistan Bureau of Statistics (PBS) as compared to June inflation raised by 4.35 pc.
Main reason for the increase in inflation mainly because of fuel and electricity prices, while the raising prices basic necessities which includes vegetables, pulses, cooking oil, flour and milk were also playing an important factor in it.
Whereas, 23.6% inflation Urban raised on year basis in July 2022 while 19.8% was increases in previous month and 8.7% was increased in July 2021.
It is notable that Pakistan is in economic turmoil with rapid decreasing foreign reserves, historical devaluation of rupee against US dollar and surging inflation. Whereas, the rupee slightly recovered recently with 53 paisa.
