Amid devastating floods and a collapsing economy, Pakistan’s annual inflation surged to 27.13% this week.
The weekly inflation rate in the country increased by 0.35% while the annual rate in recent weeks was 27.13%, The Express Tribune reported.
According to the Federal Bureau of Statistics’ weekly inflation report, at least 23 essential commodities fell further and the prices of 14 fell in recent week, while the prices of 14 remained stable.
In recent weeks, the price of salt increased by 4.84%, the price of tomatoes by 2.63%, the price of dried milk by 2.22%, the price of tea by 1.24%, the price of fresh milk by 1.23% and the cost of firewood. 1.57 as reported by The Express Tribune.
Meanwhile, potato prices increased 1.88%, LPG prices increased 0.45% and lentil prices increased 3.63%.
Statistics also show that prices of 14 essential items have stabilized in recent weeks, The Express Tribune reported.
According to statistics, in the last week, the inflation rate for the classes with monthly income up to Rs 17,732 was 22.65%, 26.14% inflation rate for the group with income from 22,889 Rs to Rs 29,517 per month.
Similarly, the inflation rate has increased to 328.48% for those earning Rs 29,518 to Rs 44,175 per month. Meanwhile, the inflation rate has increased by 32.58% for the group with incomes above Rs 44,176, The Express Tribune reported.
Affected by unprecedented floods, cash-strapped Pakistan is looking for more funds to rebuild the country after a natural disaster pushed its economy to the brink.
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