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Amid devastating floods and a crumbling economy, Pakistan's annual inflation climbed to 27.13 per cent this week.
The rate of weekly inflation in the country climbed by 0.35 per cent while the annual rate in the recent week has been 27.13 per cent, reported The Express Tribune. According to the Federal Bureau of Statistics' weekly inflation report, at least 23 essential items went dearer and the prices of 14 items decreased in the recent week, while the prices of 14 items have remained stable. In recent weeks, salt prices have increased by 4.84 per cent, tomato prices by 2.63 per cent, dry milk prices by 2.22 per cent, tea prices by 1.24 per cent, fresh milk prices by 1.23 per cent and costs of firewood have soared by 1.57 per cent, reported The Express Tribune. Meanwhile, the prices of potatoes saw an increase of 1.88 per cent and the prices of LPG increased by 0.45 per cent and an increase of 3.63 per cent was recorded in the prices of lentils. The statistics also showed that prices of 14 essential commodities have been stable in recent weeks, reported The Express Tribune. According to the statistics, during the last week, the inflation rate for the strata of society with a monthly income of up to Rs 17,732 was 22.65 per cent, 26.14 per cent in the rate of inflation for the group with an income of Rs 22,889 to Rs 29,517 per month. Similarly, the rate of inflation had increased by up to 328.48 per cent for those earning Rs 29,518 to Rs 44,175 per month. Meanwhile, the rate of inflation has surged by 32.58 per cent for the group with an income of more than Rs 44,176, reported The Express Tribune. Battered by the unprecedented floods, cash-strapped Pakistan is looking for additional funds to rebuild the country after the natural disaster pushed its economy to the brink. (ANI)
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