Pakistan: Inflation stays above 40% for 2nd straight week

In a concerning eco is experiencing sustained short-term inflation, surpassing 40 percent for the second consecutive week, as reported by Dawn, a prominent English-language newspaper in the country.

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The latest data from the Pakistan Bureau of Statistics (PBS) revealed an inflation reading of 41.13 percent for the week ending November 23, primarily propelled by a staggering increase in gas prices, which stood over 1,100 percent higher than the same period last year.

Gas prices emerged as a significant driver of inflation, contributing to the unprecedented surge in the overall inflation rate. However, other essential items also witnessed substantial price hikes, contributing to the challenging economic landscape. Notable increases were observed in the prices of cigarettes (94 percent), wheat flour (88.2 percent), chili powder (81.7 percent), broken basmati rice (76.6 percent), garlic (71 percent), Irri-6/9 rice (62.3 percent), gents' sponge chappal (58 percent), gents' sandal (53.37 percent), branded tea (53 percent), gur (50.8 percent), and potatoes (47.9 percent).