Inflation in Pakistan reached the highest level in 50 years
The Islamabad World Bank has said that the increase in electricity and gas prices in Pakistan has pushed inflation to a 50-year high.
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The World Bank has stated in its recent report that inflation in Pakistan in the first half of the current financial year has been the highest since 1974.
According to the World Bank, energy inflation in urban areas increased by 50% in the first half of the financial year, due to the increase in electricity and gas prices, the cost of production has increased significantly, due to which the energy inflation in urban areas in the first half of the financial year has increased by 50%. It was 6 percent.
According to the World Bank, energy inflation in urban areas was 40.6% in the same period last year, the average inflation in Pakistan in the first half of this fiscal year was 28.8%, and the average inflation in Pakistan was 25% in the same period last year.
The report further states that despite the stabilization of the value of the rupee, the increase in crop production, inflation increased despite the reduction in pressure on prices in the global market.