Mon, 06 Dec 2021

Inflation to increase in already expensive Pakistan

Khalid Umar Malik
21 Oct 2021, 17:20 GMT+10

ISLAMABAD, Pakistan - Pakistan is the fourth most expensive country out of 43.

The Economist, a leading worldwide publication, has published a list of 43 countries with the highest inflation rates in the world.

According to The Economist's report, Pakistan is 12 steps higher than its neighbor, India, in terms of inflation.

The report revealed that only three countries in the world are ahead of Pakistan regarding inflation - Argentina, Turkey, and Brazil.

Argentina, a South American country, has the highest inflation rate in the world, at 51.4 percent.

Turkey is in second place with 19.6%, followed by Brazil with 10.2%.

Pakistan witnessed 9% inflation last month, while India was 16th on the list with 4.3 percent.

Japan's inflation rate is minus 0.4 percent, according to The Economist.

The Pakistani public was shocked by the latest fuel price hike announced by the government. On Oct. 16, the petrol rate increased more than ten rupees a liter, reachingRs137.79 per liter, and commodities' prices will further rise in a chain reaction.

However, the government claimed that fuel prices in Pakistan are still lower than in the neighboring countries.

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