The inflation rate is historic in Pakistan as compared to the past 14 years, as the highest inflation was recorded in June 2008 when it registered at 21.5 percent.
As of now, Inflation hit 21.3% on a year-on-year basis in June 2022 compared to 13.8% in the previous month and 9.7% in June 2021. Downfall in the economy leads to high Inflation.
This is the highest monthly Consumer Price Index (CPI) reading since December 2008 when it was recorded at 23.3%,” Fahad Rauf, head of research at Ismail Iqbal Securities, told Business Recorder.
On Monthly basis, Inflation increased by 6.3% in June 2022 as compared to an increase of 0.4% in the previous month and a decrease of 0.3% in June 2021, stated the Pakistan Bureau of Statistics (PBS).
