Pakistan Inflation: There was an outcry in Pakistan! Inflation rate beyond 35%, people’s household budget deteriorating in Ramadan

Pakistan Inflation: Pakistan is going through the worst economic crisis in 75 years since its independence. Meanwhile, now there is news of another concern for the people of Pakistan. The inflation rate of the country has broken all its records (Pakistan Inflation). According to the report published in Bloomberg, Pakistan’s Bureau of Statistics (PBS) released the latest inflation data on Saturday, saying that the country’s Consumer Price Index has increased to 35.37 percent in the month of March.

Pakistan’s March inflation rate has been the highest on an annual basis. Bloomberg had estimated in its survey that the country’s inflation rate is likely to be 34.8 percent in March. In such a situation, the inflation figures of Pakistan have been recorded more than expected. On the other hand, if we talk about the figures of February, the inflation rate was 31.55 percent.

Why is inflation rising in Pakistan?

The general public of Pakistan is troubled by inflation. Rising inflation in the month of Ramadan (Ramadan 2023) has spoiled the budget of people’s homes. The main reason behind the increase in inflation is that the government has increased its tax in the last few months to get the IMF relief package. Along with this, a tremendous increase has been registered in the fuel rates of the country. In such a situation, its effect is clearly visible on the prices of food items. Talking about March last year, the inflation rate in Pakistan was 12.72 percent, which has now increased to 35.37 percent. In such a situation, an increase of almost 3 times in inflation has been recorded in the country within just one year.

There will be no relief from inflation in the coming days

According to statistics, everything of basic need has become expensive in Pakistan. Transportation in the country has become costlier by 54.94 per cent. At the same time, an increase of 47.15 percent has been registered in the prices of food items in the country. At the same time, the prices of clothes and shoes have increased by 21.93 percent and the prices of basic things like house, water and electricity have increased by 17.49 percent. Significantly, in the economic update and outlook released on Friday, it has been said that inflation may increase further in the coming days. The biggest reason for this is the increase in fuel prices and the policies of the central bank. The festival of Eid will be celebrated this month. In such a situation, the taste of sweet Eid may turn bitter due to inflation.

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