Saturday, December 2, 2023

Inflation is Set to Break 50-Year Record in Pakistan

Inflation in country is breaking all the records due to economic crisis.

The estimated inflation in February 2023 from Ismail Iqbal Securities is 29.6%, while it’s not expected to be the top since most of the effects of current strong currency decline changes in energy rates and tax measures will start in March 2023.

The projected inflation in the month of March 2023 is 33.6%.

It is pertinent to note that the Consumer Price Index-based inflation rate in Pakistan shoot to 27.6% on YoY basis in January 2023, moved from 24.5% in December and 13% in January 2022 respectively.

Country’s inflation is on path to cross around 50 year record of 29.3% in April 1975.

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