Annual inflation clocks in at 34.05%

The surge in inflation persisted in Pakistan, as it clocked in at 34.05% on an annual basis, according to the Pakistan Bureau of Statistics.

On a weekly basis, the inflation inched up by 0.33%.

The PBS, in its weekly inflation report, has revealed that during the past week, the prices of 20 essential items rose, while that of 12 experienced a decline. Meanwhile, the prices of 19 items remained unchanged.

According to the report, flour prices witnessed a substantial increase of 4.95%, followed by potatoes 2.60% and sugar 2.49% within a week’s span.

In contrast, certain commodities experienced a decrease in prices. Bananas, for instance, became more affordable by 5.56%, while the price of liquefied petroleum gas (LPG) dropped by 4.30%. Additionally, onions experienced a decline of 4.03%, and tomatoes saw a decrease of 1.63% within the same week.

Surging inflation is worrying for Pakistanis who are already dealing with the economic challenges posed by decreasing purchasing power.