Pakistan Records Highest Inflation in Almost 50 Years

The Pakistan Bureau of Statistics (PBS) on Thursday announced an increase in inflation by 2.4 percent in August 2022 as compared to the last month.

According to the PBS, the general inflation increased by 27.3 percent on year-on-year basis in August 2022 as compared to an increase of 24.9 in the previous month and 8.4 percent in August 2021.

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On month-on-month basis, it increased by 2.4 percent in August 2022 as compared to an increase of 4.3 percent in the previous month and an increase of 0.6 percent in August 2021.

The report further highlighted that the inflation in urban areas increased by 26.2 percent on year-on-year basis in August 2022 as compared to an increase of 23.6 percent in the previous month and 8.3 percent in August 2021.

On month-on-month basis, it increased by 2.6 percent in August 2022 as compared to an increase of 4.5 percent in the previous month and an increase of 0.5 percent in Aug 2021.