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HomePakistanInflation in Pakistan hits 50-year high, World Bank

Inflation in Pakistan hits 50-year high, World Bank

The historic rise in electricity and gas prices has been cited as the main cause of inflation in Pakistan
Dawn Commerce Reporter

New York: According to the World Bank, the inflation rate has reached the highest level in 50 years due to the increase in electricity and gas prices in Pakistan.
The World Bank says that inflation in Pakistan in the first half of the current fiscal year was the highest since 1974. The increase has increased the cost of production.
According to the World Bank, in the first half of the current fiscal year, energy inflation in urban areas increased by 50 percent and energy inflation was 50.6 percent, which was 40.6 percent in the same period last year.
The average inflation in the first half of this fiscal year was 28.8 percent, which was 25 percent in the same period last year. Prices have increased.
According to the World Bank, during the current fiscal year 2023-24, the average inflation rate in Pakistan is likely to be 26 percent, which was 29.2 percent last fiscal year, but the average inflation rate in the next fiscal year 2024-25 will be 15 percent and in the fiscal year 2025-26, the inflation rate will be more. It is likely to decrease to 11.5 percent.

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