Inflation reached a 47-year high

In January 2023, the monthly rate of inflation increased by 2.90% to 27.55%.
Inflation reached the highest level of 47 years, monthly inflation reached 27.55% in January 2023. According to the details, the 47-year record of inflation in the country was broke. The Bureau of Statistics has released monthly data, according to which the rate has reached a 47-year high, up from 27.8 percent in May 1975.

According to the report, the inflation rate increased by 2.90 percent during the last one month, the inflation rate reached 27.55 percent in January, and the inflation rate reached 25.40 percent from July to December of this financial year.

Inflation increased in rural areas compared to cities in one month, chicken, wheat, flour, rice, onion, dal mung, vegetables also became expensive. Construction materials including house rent also became expensive.

weekly inflation

While the weekly inflation rate has also gone above 32 percent. According to the report of the Bureau of Statistics, the weekly inflation rate increased by 0.45 percent to 32.57 percent. During a week, the prices of 25 commodities increased, the prices of 6 commodities decreased. And the prices of 20 commodities remained stable.

It should be noted here that according to a recent report by the World Bank, inflation in Pakistan has reached its highest level since the 70s.
According to the World Bank, Pakistan is facing difficult economic conditions. The recent worst floods and political uncertainty are the main reasons for Pakistan’s difficult economic conditions. Pakistan is facing severe external debt repayment risks.

While the well-known economist and former finance minister Dr. Hafeez Pasha has warned that. The annual rate of inflation in the country may go up to 35% by another 10%. While Imran Khan says that inflation will increase by 50% due to the fall in the value of the rupee.