Shehbaz returns and Pakistan’s weekly inflation spikes to a 14-year high 

Shehbaz returns and Pakistan’s weekly inflation spikes to a 14-year high 

June 18, 2022 0

What happened: As Pakistan is going through an economic crisis with rising inflation and prices of goods soaring up in the country. Pakistan has also recorded an increase in petroleum prices in a bid to revive the IMF loan program. On the other hand, the weekly inflation in the country has shot up to 3.38% during the week. 

Details: A local publication quoted the development as, “sensitive price index surged 3.38% week on week and 27.82% year on year hitting a 14 year high during the week ended June 16.” The Pakistan Bureau of Statistics released the data stating that 71% of prices of basic commodities shot up and it also showed “an increase in the prices of diesel, gents sponge chappal, gents sandal, chicken, cigarettes and cooked daal.” 

More: At the same time, the Securities Head of Research Fahad Rauf said, “The quantum of increase has not been seen since the 2008 global financial crisis.”

Rana Abdullah Hammad
Rana Abdullah Hammad
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