ISLAMABAD
The inflation rate in Pakistan has set another record and reached 36.42 percent in April, data released by the Pakistan Bureau of Statistics (PBS) showed Tuesday.
As per details, the Bureau of Statistics has released the monthly figures for the inflation rate which stated that the inflation rate has hiked by 2.41 percent in April, an all-time high soared. The inflation rate increased by 2 percent in the urban area while 2.97 percent in the rural areas.
Inflation, measured by the Consumer Price Index (CPI), clocked in at 36.4% year-on-year in April. It was recorded at 35.4% last month and 13.4% in April 2022. This is the highest inflation ever, according to data available since 1965, Arif Habib Limited said. Meanwhile, inflation rose by 2.4% month-on-month. According to Bloomberg, Pakistan has the fastest rising prices in Asia, which have left behind even Sri Lanka where inflation was measured at 35.3% in the previous month. Sana Tawfiq, an economist at Arif Habib Limited, said the headline inflation was in line with expectations. The prices of wheat, vegetables and fruits drove up food inflation, she said. The price of Potatoes increased by 26.88 percent, flour 25.8 percent, tomatoes 19.3 percent, sugar 18.8 percent, fruits 10.1 percent, eggs 9.8 percent and wheat by 4.47 percent. The inflation rate was recorded 28.23 percent from July till April 2023. The hike in prices of eggs and wheat was recorded 100.8 and 103.52 percent respectively.
