Pakistan Bureau of Statistics has released an alarming outlook on inflation. As per the Monthly official report of PBS, the inflation rate has surged to 21.32% which is the highest inflation rate in the history of Pakistan.
“CPI inflation General has increased by 21.3% on year-on-year basis in June 2022 as compared to an increase of 13.8% in the previous month and 9.7% in June 2021”, PBS report reads.
According to PBS, the Rural inflation rate has surged to 23.6% on year-on-year basis in June 2022 as compared to an increase of 15.9% in the previous month and 9.7% in June 2021.
The inflation rate almost increased in all sectors including Non-perishable food items (24.43pc), Restaurants and hotels (21.85pc), Furnishing and household equipment maintenance (18.76pc), Alcoholic beverages and tobacco (17.6pc), Miscellaneous goods and services (15.83pc), Recreation and culture (14.35pc), Clothing and footwear (13.72), Housing and utilities (13.48pc) and Health (11.3pc).
After the approval of the IMF-approved budget by National Assembly, more inflation is feared and CPI may increase to 30% in the next couple of months.
In April 2022, when Imran Khan was ousted from the PM office, the inflation rate was staying at 12.7%.