Economy
World / Countries / MNCs Pakistan's inflation moves up to touch 38 pct in 2023
Just Earth News | @justearthnews | 03 Jun 2023, 08:09 am Print
Pakistan Inflation
Wikipedia Commons
Pakistan's inflation rate has skyrocketed to touch a new all-time high of 38 percent in May 2023.
It is the nation that is witnessing the highest inflation in the region.
This remarkable level has not been witnessed in the nation since the commencement of comparable records in 1957. The inflationary surge, which escalated from the previous month’s rate of 36.4 percent, can largely be attributed to an unprecedented increase in food prices, reports The News International.
Inflation in the month of May last year was 13.76 percent.
More Economy
- Automobile giant Tesla likely to remove 10 percent of its workforce
- Crypto market tanks amid Middle East crisis
- Elon Musk's Tesla inks strategic deal with India's Tata Electronics to procure semi-conductor chips
- Apple plans to reduce 614 workers in California
- Tech major Apple to open its new Shanghai store on Thursday