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Inflation breaks ten-year record in Pakistan after increase in prices

Inflation breaks ten-year record in Pakistan after increase in prices

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Inflation in Pakistan during January 2020 was the highest recorded since December 2010, according to research by United Kingdom-based financial forecasting and advisory group Economist Intelligence Unit.

As per Geo News report, the research further indicated that the rise in the prices of everyday items during the first month of 2020 was higher than expected, and led to a rise in inflation across Pakistan, breaking a decade-old record in the process.

Why has the inflation rate increased?

The increase in prices of everyday items was caused by a glitch in their supply to the markets, the group claimed. The increase in prices of wheat, sugar, and tomatoes was cited as examples for the rising inflation.
However, the financial research firm further said that an 18.6% rise in transport fares – a sector of the economy directly linked to many others – was another factor which contributed to the rise in inflation.

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