Inflation in Pakistan is highest in 48 years

Last January inflation in Pakistan stood at 27.55 percent. This is the highest in the last 48 years.

The country's statistics bureau released the data on Wednesday (February 1). This is the highest rate of inflation in the country since May 1975.

Pakistan

• The Pakistani media Dawn reported in a report that the National Consumer Price Index in Pakistan this month has increased by 2.88 percent compared to last month. The country's economy is currently in dire straits. The country is trying to raise a huge amount of foreign debt to overcome the crisis.

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According to data provided by Arif Habib Limited, a Pakistani investment firm, the first time inflation in Pakistan was this high was in 1975. Inflation rose to 27.8 percent that year.

Mohammad Sohail, chief executive of brokerage firm Topline Securities, said inflation was expected to pick up after the depreciation of the rupee, end of subsidies and hike in taxes.

Pakistan

• In Pakistan, onion, chicken, rice flour, flour, kalai, mung dal, gram dal, gram flour, mustard oil, masa dal, fresh fruits, cooking oil, pure milk, ghee, tomato, fish, lentil, meat, fresh Prices of vegetables, potatoes and sugar.
  Inflation is expected to increase further in February. The rise in prices of petrol and diesel in particular has added to inflationary fears.

Currently, the government of Pakistan is trying to get a loan from the International Monetary Fund (IMF). If the IMF agrees to lend, inflation will increase. Already on Tuesday, a delegation of the IMF has arrived in Islamabad. Talks have stalled due to tough conditions on the loans Pakistan has sought to revive the economy. An IMF delegation has gone to the country to resume talks.