Pakistan’s Inflation hits 50-Year High: WB

According to the World Bank, Pakistan is experiencing its greatest levels of inflation in fifty years, which are mostly due to increases in the cost of gas and electricity.

The World Bank highlighted the gravity of the situation by pointing out that Pakistan’s inflation in the first half of the current fiscal year had exceeded levels not seen since 1974. Production costs have increased noticeably in a number of areas as a result of this increase.

During the same time frame, energy inflation in metropolitan areas has increased by 50%, and overall energy inflation has reached 50.6 percent, a notable rise from the 40.6 percent recorded the previous year. The average rate of inflation for the first half of the current fiscal year is 28.8%, which is higher than the rate of 25 percent for the same period last year.