Pakistan Economic Crisis worst situation ever, as Inflation jumps higher by 24.5pc in December

Pakistan economic crisis going worst every day due to various factors but one of the most important factors is political instability. This Government cannot run the economy in a very effective way. All of the burdens are on the civilians. The only solution to this economic crisis is a free and fair election on time.

(Infosette News) ISLAMABAD: According to a report released on Monday by the Pakistan Bureau of Statistics (PBS), the Consumer Price Index (CPI), a measure of inflation, increased to 24.5 percent in December 2022 on a year-over-year (YoY) basis.

The report revealed that on a month-over-month (MoM) basis, inflation increased to 0.5% in December 2022 as opposed to an increase of 0.8% in the preceding month.

The PBS said that “CPI inflation general, jumped to 24.5% on a YoY basis in Dec 2022 as opposed to an increase of 23.8% in the preceding month and 12.3% in Dec 2021.”

According to a news release from the bureau, prices increased by 0.5% in December over the prior month.

The costs of most consumer products continue to be out of reach of the general public despite a 2.8% reduction in the index’s movement.

The rate of inflation was in accordance with the Ministry of Finance’s predictions, which ranged from 23% to 25%.

According to PBS, CPI inflation in urban areas grew to 21.6% on an annual basis in December 2022, up from the previous month’s growth of 21.6% and December 2021’s increase of 12.7%.

In comparison to the 0.4% increase the month before and the 0.3% increase in December 2021, it grew to 0.3% on a month-over-month basis in December 2022.

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