June 2, 2023
1 min read

Pakistan sandwiched between Inflation, turmoil

The average price of a 20 kg wheat flour bag more than doubled to around 2,700 PKR in May….reports Asian Lite news

Consumer inflation in Pakistan raced to 38 per cent in May, the highest annual rise in prices on record, driven mainly by skyrocketing costs of food, house rents, electricity and gas bills, and transport, official data revealed.

Non-perishable foods and transport costs climbed more than 50 per cent over May 2022, while average inflation for this fiscal year has reached 29.2 per cent, Dawn news reported citing the data from the Pakistan Bureau of Statistics.

The May reading exceeded the Finance Ministry’s projection of 34-36 per cent for the month and comes as political turmoil continues to roil the country.

Pic credits IANS

Years of financial mismanagement, rupee depreciation and the government’s failure to unlock IMF funding have also played a role in taking annual price hikes to such record highs, Dawn reported.

Official data showed that the average price of a 20 kg wheat flour bag more than doubled to around 2,700 PKR in May compared to the same month a year ago.

The average price of chicken (live) rose by 38.6 per cent to 435 PKR per kg, that of milk by 41 per cent to 170 PKR a litre, and that of eggs by 85 per cent to 280 PKR a dozen.

Pulses and vegetables also became costlier, Dawn reported.

However, monthly inflation — measured by a basket of products and services called the Consumer Price Index (CPI) — is likely to go down from June due to a high-base effect.

It has been rising since mid-2022 after the government took painful measures as part of fiscal adjustments demanded by the International Monetary Fund to unlock stalled funding.

ALSO READ: DIVIDE AND RULE: Pak Army Apes British Tactics to Hold Power

Previous Story

Protest site rubbed off online maps in China

Next Story

Uncovering the Dark Reality of Khalistan Militants in Pakistan

Latest from -Top News

Pakistan’s Shadow War in Balochistan

At least 50 killed by Pakistan-backed death squads in Balochistan in April, says HRCB — toll expected to rise in May….reports Asian Lite News The Human Rights Council of Balochistan (HRCB) reported

Russia, Ukraine Resume Talks

The upcoming talks follow a significant hiatus in diplomatic engagement between the two nations, which have been locked in a brutal conflict since Russia’s invasion of Ukraine in February 2022 Russia and

UN Pays Tribute to Indian Soldiers

Thursday was observed as the 77th UN Peacekeepers Day, honouring the work of 61,353 peacekeepers, of whom 5,375 hailed from India….reports Asian Lite News Brigadier Amitabh Jha and Havildar Sanjay Singh, who

Modi’s New Warfare Playbook

Modi has upended the old playbook and India and Pakistan are entering dangerous new territory where nuclear deterrence is no longer a guarantee against conventional conflict…writes Collins Chong Yew Keat The India-Pakistan
Go toTop

Don't Miss

BJP MP Jethmalani Affirms India’s Support to Sindhis in Pakistan

Opening up on the plight of Sindhis in Pakistan, Jethmalani

Imran ‘thanks’ Pak govt for adding him on no-fly list

Imran said he doesn’t have any plans to travel abroad…reports