Monday, June 24, 2024, 10:15 PM
BREAKING NEWS
**First fuel trucks enter war-torn Gaza: Rafah crossing official **Six trucks with fuel to power generators at two hospitals crossed from Egypt **Hezbollah war with Israel would be 'mistake of its life': Netanyahu **We will strike it with a force it cannot even imagine: Netanyahu **Force ‘not way’ to resolve Israeli-Palestinian conflict : China **Iran journalists who covered Amini death get jail sentences **Elaheh Mohammadi, Niloufar Hamedi were both found guilty of collaboration with US **Elaheh and Niloufar were arrested after reporting on the death last year of Mahsa Amini
Home Business Inflation shows no signs of weakening in Pakistan, stands at 27.4%

Inflation shows no signs of weakening in Pakistan, stands at 27.4%

by NWMNewsDesk
0 comment

Inflation has become a serious global problem that affects all countries. With a 27.4% inflation rate, Pakistan is struggling with rising costs, which has led to a closer look at how this number compares to other nations facing comparable economic difficulties.

The inflation rate stayed above target at 27.4% in August, data showed on Friday, as reforms set out as conditions for an International Monetary Fund (IMF) loan complicate the task of keeping price pressures and declines in its rupee currency in check

The South Asian nation is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan program, approved by the IMF in July, averted a sovereign debt default.

Reforms linked to the bailout, including an easing of import restrictions and a demand that subsidies be removed, have already fuelled annual inflation, which rose to a record 38.0% in May. Interest rates have also risen, and the rupee hit all-time lows. Last month the currency fell 6.2%.

banner

The August data from Pakistan’s statistics bureau showed a slight easing from July’s 28.3% inflation rate, but food inflation remained elevated at 38.5%

You may also like

In a recent breakthrough, researchers have found that the updated COVID-19 vaccine has demonstrated an impressive 95% efficacy rate against the emerging Delta variant, which has been causing widespread concern globally.

Blogs

Latest Articles

© 2023 News World Media. All Rights Reserved.