Inflation Soars to 27.77%, Highest Since May 1975 - Capital TV

June 4, 2023


Inflation Soars to 27.77%, Highest Since May 1975

Anum Razzaque

KARACHI: The Consumer Prices Index (CPI) measured the level of inflation in the last month. The latest data shows that on an annual basis, stagflation has surged to 27.77%, with a 2.9% increase compared to the previous month.

The data released by the Pakistan Bureau of Statistics (PBS) reveals a significant rise in the prices of various categories, including food, energy, housing, water, electricity, gas, and fuel.

This is the highest YoY boost after May 1975 (27.77%).

The PBS reported that the overall prices hike rate increased in both urban and rural areas.

The inflation rate in urban areas rose by 24.4% in January, while the rate in rural areas increased by 32.3% compared to the same month of the previous year.

In January last year, the inflation rate in urban areas was 13% meanwhile, in rural areas it stood at 12.9%.

The average inflation rate for the first seven months (July – January) of the current fiscal year came in at 25.4%, according to PBS.

The public is already frustrated with the soaring prices, as the increase in energy and fuel prices is exacerbating the situation for countries affected by floods.

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