Pakistan’s Inflation Hits 11.7%, Highest Since June 2024

Pakistan’s Bureau of Statistics has announced that the inflation rate reached 11.7 percent in May of this year, marking the highest level since June 2024. This increase indicates new pressures on the country’s economy and the cost of living for its residents.

According to economic experts, tensions in the Middle East and rising global oil prices are the main factors driving the price increases. The rise in oil prices in international markets directly affects fuel rates and subsequently the prices of other goods.

Reports indicate that the prices of petrol, diesel, and other raw materials have increased in Pakistan. Additionally, prices of wheat, meat, milk, vegetables, and other food items have risen significantly, placing further strain on households.

In recent years, Pakistan has faced economic challenges including a depreciation of its national currency and increased import costs. This latest rise in inflation could pose greater difficulties for the country’s economic recovery process.