Inflation rises as political instability hammered nation

 

The rapid increase in inflation had been seen over last couple of months. Inflation hiked up to 20 percent in last six to seven months.

Islamabad: Pakistan has recorded the inflation of 31.6 percent in February which is highest in country since its inception.

According to Consumer price index (CPI) inflation has been increased in Pakistan in previous one month. In January inflation was falling on 27.60 which jumps up to 31.6 at the end of February due to which fares becomes very high and foodstuff items are expensive.

Arif Habib Corporation claimed that statistics available since the 1965 this is the highest increase in CPI.

12.2 percent inflation was recorded in last year February. The reports of Pakistan statistics bureau (PSB) stated that 28.82 and 35.56 percent inflation has been increased in urban and rural areas of Pakistan respectively.

Inflation increased up to 4.32 on monthly basis.

The rapid increase in inflation had been seen over last couple of months. Inflation hiked up to 20 percent in last six to seven months.

Annual increase was on these following things:

Transport 50.45%, Alcoholic and tobacco items 49.2%, Culture and recreation 48%, Perishable foodstuff 47.49%, Restaurant and hotels 34.54%, Health 18.78%, Clothes and shoes 16.98%, Home and utilities 13.58%, Education 10.79%, Communication 3.69%

Finance ministry told in monthly economic update and outlook that inflation would lies between 28 to 30 percent because of the current political turmoil and economic instability.

Due to current political and economic tension, finance ministry warned that Pakistan has to bear devaluation of currency, prices will shot in energy sector and inflation will also increase.