August 10, 2022

Inflation in Pakistan reaches 13-year high

Inflation in rural areas stood at 23.6 per cent in June, compared to 19.8 per cent in June, the report said.

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According to the monthly report released by the Pakistan Bureau of Statistics, inflation rose to 21.32% in June, the highest since December 2008.

Under the Pakistan Tehreek-e-Insaf (PTI) government, the maximum inflation rate was 14.6 per cent, while in June this year, the inflation rate rose sharply to 6.34 per cent in June.
In June, urban inflation rose to 6.19 per cent, while in rural areas it rose to 6.57 per cent.

According to the data, the inflation rate in May 2022 was 13.76 percent while in June 2021 the inflation rate was 9.7 percent.

Inflation in rural areas stood at 23.6 per cent in June, compared to 19.8 per cent in June, the report said.

The target of 8% average inflation for the financial year 2012-13 was not achieved and the average inflation in the last financial year was 12.15%.

Double-digit inflation was seen in various sectors, but the trend was mainly in the transport sector, which saw a rise of 62.17 per cent, while perishable food items rose by 36.34 per cent.

Other sectors in which inflation remained in double digits are:

Perishable Foods (24.43%)
Restaurants and hotels (21.85%)
Maintenance of furnishings and household goods (18.76%)
Alcoholic beverages and tobacco (17.6%)
Miscellaneous goods and services (15.83%)
Entertainment and Culture (14.35%)
Clothing and footwear (13.72%)
Housing and Utilities (13.48%)
Health (11.3%)
It should be noted that after the continuous increase in the prices of petroleum products, the prices of daily necessities are increasing.

The coalition government has begun to impose stricter conditions for the release of loan installments from the International Monetary Fund (IMF), a clear example of which is the increase in petrol and diesel prices.
After increasing the price of petrol by Rs 14.85 per liter last night, the new price became Rs 248.74 per liter while the price of high speed diesel was increased by Rs 13.23 per liter including the levy of Rs 5 and the new price per liter. 276 will be 54 paise.

Kerosene has also been increased by Rs 18.83 including partial levy of Rs 5 and the new price per liter has become Rs 230.26.

The light diesel oil (LDO) has been increased by a partial levy of Rs 5 to Rs 18.68 and the new price of light diesel will be Rs 226.15.

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