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

Singapore’s Ruling Party Achieves Landslide Victory

Prime Minister Lawrence Wong, whose party won the election, thanked supporters.,..reports Asian Lite News Singapore’s ruling People’s Action Party (PAP) won 87 of the 97 seats in Parliament in Saturday’s general election,

Jaishankar, Lavrov Discuss Pahalgam Terror Attack

Both the Ministers discussed issues of Russian-Indian cooperation and the aggravation of India-Pakistan relations following the terrorist attack in Pahalgam. External Affairs Minister (EAM) S. Jaishankar spoke to the Russian Foreign Minister

Rajnath Singh to skip Russia visit

The decision comes amid rising tensions between India and Pakistan following the recent terror attack in Pahalgam, Jammu and Kashmir…reports Asian Lite News Defence Minister Rajnath Singh will not likely attend Russia’s

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of

India Eyes Supply Chain Shift

India’s electronics manufacturing sector is undergoing a remarkable transformation, positioning the country as a major global hub for production and supply chain diversification. Riding on favourable government policies, geopolitical tailwinds, and a
Go toTop

Don't Miss

Legal Hurdles Pause Proceedings in Imran’s Cypher Case

Reports said that Justice Miangul Hasan Aurangzeb passed the short

US Congress clears Pak’s F-16 package amid criticism from India

The F-16 package made headlines after Indian criticism of the